There is much talk on here of FIRB approval being a trigger for a surge up. I have to say I am now somewhat sceptical about that. Given that FIRB is considered to be somewhat of a formality......do people really think that we will see a significant positive reaction in the SP? I would have thought the risk of no approval is very low and that the SP "should" (in theory) already have the value of the Artemis farmout going through factored in.
Not saying the value of the artemis farmout is fully factored in yet, rather I just don't think it is FIRB approval that is holding it back. I think more likely it reflects short term buying and selling action by: 1) Holders who were expecting a better reaction to the announcement that were sick and tired of waiting for "the announcement" and just wanted out at something better than the 30s 2) Market players / bots / manipulators who are feeding off the uncertainty and emotions that effect MEOs shareholder base 3) Damage to MEOs reputation as a stock / investment opportunity - the kinds of buyers that drove it up to 80 cents last year are more wary
I think that once the impatient sick and tired are flushed out we will have a new batch of shareholders whose point of entry is in the 40s that will stick out and wait for the SP to hit the 50s 60s 70s + ie I believe the selling will dry up at some point soon.
Anyway...food for thought
MEO Price at posting:
40.0¢ Sentiment: Buy Disclosure: Held
