To be honest with you today's trading pattern is quite surprising and may be driven by shorts and stop losses. KAH were up over 2% last night.
If CGNPC were going to withdraw why are they still trading ordinaries and CFD's in KAH ? surely their only motive is to stabilise or lower the KAH price. I doubt they will walk away from this project when there are no comparable alternatives (as advanced as Husab) if they want to lock in long term supply, I would imagine if they pulled out it would only open the door.
I am not at all worried by the Epangelo involvement as they and the Namibian Govt have been engaged in discussions with JL and Extract for a long time, this has been well documented and reported by the company.
No news always worries stockholders though. Fundamentals have not changed and a resource upgrade is due.
EXT Price at posting:
$8.04 Sentiment: Hold Disclosure: Held
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