Seems a bit of a silly way to trade this one. Everyone knows that when the company says 3 months they mean 6, and the expectation is that they will be "moving oil' by the end of the year. September was already flagged as the release timeframe for Sherritt#1, so your two months takes you into mid October, which - using that "double the time" rule - means that you will probably be selling the day before the company announces rig mobilisation to Pad#2.
This is currently a "buy, close eyes for six months" trade. Two months is too short, IMO.
Kit.
(As @No4sighttrader what he thinks: I am sure he is selling every day between now and then as well).
Seems a bit of a silly way to trade this one. Everyone knows...
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Last
2.3¢ |
Change
-0.001(4.17%) |
Mkt cap ! $77.51M | |||
| Open | High | Low | Value | Volume |
| 2.4¢ | 2.4¢ | 2.3¢ | $28.01K | 1.168M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 1913103 | 2.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.4¢ | 573987 | 7 |
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| Last trade - 14.54pm 28/08/2024 (20 minute delay) ? |
| MAY (ASX) Chart |