To be honest the rise caught me by surprise too (though of course it was a welcome surprise). Wasn't expecting much until mid-January to be honest.
There'll be a certain amount of speculation over the Puntland PSA as that has to be announced by the 19th January (in theory...we all know what Range can be like with timelines) and Monitor look set to give us an update on the 4th as to how their capital raising is going. I don't see either as major price changers but maybe there's some that think differently.
Two alteratives- the rise might just be a bubble, i.e. some investors see a rise so buy in, so it rises more, leading people to believe something is happening, when it isn't.
Or on the other hand- the helium survey team will have finished their groundwork by now (according to the RRS announcement it takes 3-4 weeks to complete groundwork, and they started in the first week of December). Yes there's 3 weeks of 'interpretation' still to go, but I'd imagine to anyone reasonably experienced in the field that it will be pretty obvious by now already if the results are positive or not. Perhaps the results are good and they've tipped off some others to buy in.
Oh well, we'll all know soon enough anyway. Here's hoping after a long time of waiting they'll finally be something to shout about.
RRS Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
