if you look through trading history, you would see 600k CDI's cross traded at 40c ~4-8 weeks ago and 1.3m crossed at 26c yesterday. I was told those are from seed investors whose average cost is ~15-20c. There are still a fair bit to be crossed but I was told an Insto investor is keen to buy in (don't know who).
Regal being Regal and seems to continue selling out brutally. I think they still have a few million CDI's to get rid off which might take some time at the current volume. But Ellerson seems to remain committed and hopefully has not only held but also accumulated more.
If the registry can be tightened at the same time major contracts being secured, I think the recovery back to 60-80c can be at sight (6-9 months).
SRJ Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
