Chinese PPI is better than expected so Asia market closed high...
DJ and SP 500 index did well because of strong performance of its Financial sectors...
As for the CXO itself:
My opinion is:
It is a Exploration company, before those great hits, no one Care to buy it by over 3.5c and No one will take part in the 9c CR, so we all see the sp touch 15c, so why people like to pay that price? Again, go back to the nature of Exploration....
We and market have been Informed publicly via announcements that CXO has Consistent news flow to come include " 2 more holes with strong visual and assay pending, follow up DD and RC underway, possible resources define, high quality MET works being processed by engage with top gear consultants..... etc"
So not only CXO keep exploring, but also move quickly to define a resources, and keep going forward with logic step by step, they are really provide confidence to those who bought in.....
I knew many here have been in this market for quite long, so be honestly, if we bought into a company with sp up strongly by a Single news and that company had informed market that there will be 1,2 ,3 month gap for next round of drilling, 90% will sold out and walk away, However, it is not the CXO case.
In the whole world, people always Comparing, almost everything, so In thus case, CXO has been compared with the rest of peers, I don't need to repeat here coz many, such as Greenbull, had done the graph and tables for it, from my risk and reward tolerance, I am of the opinion that CXO is the one with significant low MC when compared with big boys with huge MC, and significant Real Finding and strong news flow when compared with the rest Low MC peers.
As for Lithium, even Chinese TianQi is the big strong alliance with greenbush, but There is ever lack of more big pocket Chinese groups wanting to share the market of Lithium; moreover, when compared with west Australia, NT has big advantage for Logictic view which save time and transport expense, etc.
I am gradually getting to undersand why CXO use the word Discovery with an Adjective of Major on top, that is by keep finding to increase the size of the resources, CXO will be a Major player amount its peers, for those who with huge MC today, their MC might decrease gradually, and possibly CXO MC increase in due course...
As for raising funds, It is inevitable step for every company, so hopefully, weak hands washed out soon and Hartley back to work along with more good news.. 9.7c has been touched twice and Market definitely show strength, reversal back up could be not far....I am of the opinion 15c will be retest once SP settled at 10c level for several days...remember, when SP can't be sold down for several days, it is not far to Go Up given The company has lots of potential Catalysts to Show.....
Sorry for any wrong spelling and not clear set up of my post because Saturday morning without breaks yet.....
Before anyone buying a company, ask yourself:
Is it right sector, its future, cash on hand, Debt, MC, share on issue, momentum, possible Catalysts, placement price, it's TA as well, but, FA is the Most important key.....
(20min delay)