It depends on market interpretation in my experience. Obviously...

It depends on market interpretation in my experience. Obviously if results are good then sp climbs but if the accumulation previous is too big it can actually go down, (buy on rumour sell on fact) but the beauty of BNE imo is that it has actually found a base lower than when trial were announced so anyone who is in at recent prices has got in at the right time. An announcement that trials have begun will have almost no effect at all on the SP as everyone who has committed dollars will be expecting this to happen. An announcement that a positive outcome has been found will send SP climbing on forecasts of future earnings (huge for BNE). The other effect will (hopefully) be an accummulative rise in SP as announcement dates for results get closer. Thats my limited experience but as I have said before Im more confident of BNE providing an undervalued and derisked base with good potential in the medium term than anything else out there at the moment.