I don't know anything for sure. I was just seeing it close at a record high day in day out (and again today) and I thought that it is not characteristic of normal accumulation.
In normal accumulation you will carefully orchestrate your buying so as to not get the market too excited. You will use dirty tricks like capping to bring down your average buy price.
Dattels has not been doing any of that and for such a smart cookie you would have to ask why?
I could only conclude that he is racing the clock.
This implies that the first offer will be before August when zone 2 JORC is due and he knows that first offer will make the price jump much higher than it is now. I also assume that offer will be in the next week or couple of weeks.
Reasons why someone may make an offer before zone 2 results are out:
1) You may not care about zone 2 results ie zone 1 is great enough for you to move now.
2) You may already know how well zone 2 is doing because your geos visit the site often.
3) You may have calculated that paying a large premium for existing results will get you a cheaper price than waiting for all results to be in and paying a market price for them ie I am saying that maybe z1+z2 will be so big and so rich that even with paying lower $/lb you will stay be paying a whole lot more than now if you make an offer that is apparently very generous on a $/lb basis.
I don't know anything for sure. I just know that whichever way this goes it's gunna be really good.
EXT Price at posting:
$5.24 Sentiment: Buy Disclosure: Held
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