My view (for what it is worth) is that the weekly chart does look weak with 25c looking a possibility. But I think that the last time that it was near this price (26 &27.5c in April) directors stepped in and bought up.
I would think that the current weakness increases the possibility of Xstrata using it as a trigger to make a move. If the weakness continues after Ivanhoe have listed, it also increases the chance of a bid from them. If they thought it a worthwhile investment @ 35c, then they must think it an bargain at current prices (especially if they only offer scrip, not cash).
I note the reference to “something not being right”, but for the life of me, I cannot think what that could be. We have heard Michael talk about the future over the coming year, and I just cannot think of what problems might be there.
EXS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
