in the current market you would have thought that an accumulator would bide their time and accumulate a few hundred thousand at a time, weeding out the weak and nervous.
the ferocity that this accumulation has been done in over the last 3 days, and clearly not just daytraders jumping over each other after the 1.6M traded in 2 goes today, indicates that something substantial is certainly in play here or the buyer should change advisor/broker!
1. Beneficiation results cannot be far away at all. it any leakage from this, then it would appear we have a marketable product to say the least, and 900 M tonnes of one!
2. Offtake MOU's that have gathered dust on WR's desk may be about to get a dusting off.
3. the long/much talked about equity investment (japanese or otherwise) may be imminent
4. railway and port are not the driver of this imo. They are mid-long term drivers, not somehting for the accumulator to continue to jump over itself to buy.
5. maybe nothing is going on, and it is another $2.50 placement holder having a go and averaging down similar to what they did in Sept when the price ran to $1.90 odd.
All will be revealled soon. Unless 2 are acculating then you would have to think a revision to the substantial holders will be out any day. 7M shares would make a substantial holder notice required.
Lets see what next week brings. Has an even better feel than the run from the Jan 2008 lows to the 5/3/08 spike (and that was in a lot less nervous market!!) What does someone know??
Like a lot on this thread, hundreds of hours have been invested in the research of this company, with the highs and lows that go with a chart looking like BRM's. Finally fundamental research and patience may pay off in an irrational world
BRM Price at posting:
92.5¢ Sentiment: LT Buy Disclosure: Held
