Down ramping is probably best summed up by people going "Timber"...its all over...one liner non-backed..no reasoning etc.....or just saying "i think it will go down now"....thats what I call donw ramping...
as much as one liners like "its going to fly"..."it will be up 500% this week...without reasons why.
Some have great arguements for and against and its best to read them then use them as a basis for further research on your behalf.
HC is a great forum to use for further research...you get some great info sharing...and a lot of people just doing useless lazy posts for their own gain...but you can quickly see who they are.
Here is my take on LKO at the moment.
Personally...I think its been a long time coming that the company will be merely re-rated to above 2 cents...probably more without futher results. I saw around 4-6 weeks ago LKO hitting the Top 20 volume for the day every second day or so. This was one flag to put her back on the watchlist. Ihe SP didn't deviate more then around 20% up or down but the volume was a bit of a give away that it was getting more attention.
It floated between 0.7 and 1.2 around this time. More news came...some media write-ups....so she started to hit more radards...more volume...more people following.
Digging into the tenement area, their results....they have a good area...they are hitting gas...water is coming into the column..not good....but may not be so bad either.
LKO is now on a lot of radars as they are hitting gas and people are taking positions in case its commercial and that the gippsland tenement pays off. We have a lot going for the company in my opinion...its 65 years old to start with.....the CEO seems like a dog with a bone...wont give it up easily and they are hitting what they are looking for..the gas.
Fortunately...finding some oil too.
9 out 10 these situations are fizzers. See them all...GDN is a great example....they seem great are finding zilch..but keep dangling the carrot in front of everyone year after year.
No one knows with LKO yet what they have. There is risk but you wor out whether its right for you or not to take a position and adopt some risk.
A nice thing about LKO is its share price and that a run has just started....probably 2 days into it.....not a long time. Some are up 20% and we have seen a buy on Friday for 45 million shares...and a couple of big dumps...one of around 27 million shares in a hit....could be bigger traders...could be bigger people sniffing around.
I dont like consipiracy theories when it comes to hard earned money but personally think LKO is in the process of heading to around 3-5cents wthout too much trouble or guranteed commercial gas flows.
4 billion shares on issue. Is this a problem as some have stated? Not for me. Like Gods Broker said....a 10 for 1 consolidation would fix that quick smart.
Some will argue that after most consolidations..the SP flows back to its original anyway....not always. FMG didn't and I dont see LKO like FMG at all....although.....there will be some company's that do a FMG from 6 cents to $60 this year or the next....it does happen.
I reckon we are in good hands. I like where LKO is at and where I think they are headed.
Good luck with your decisions.
LKO Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
(20min delay)