Yup - I'm thinking of ditching 300k shares but something tells me she'll see 0.03 by the end of play today - the support on the buy side is strong and sellers are aiming way beyond 0.03 - they're going to be hard to budge, so may wait until after 2pm I just noticed the pile-up of buyers at 0.027... 20.3M lol! They're NOT going to get their way!
Glad I didn't (!) - Now thru .029 - if she hits .03 she may run to .35 - which would be bloody marvellous... Just a pain in the a55 to decide when to pull the trigger & take a chunk of profit...
At 0.03 Ask now - sellers drying up - another good sign... this afternoon could get interesting - that 20M lump of buyers at .027 is still there Big wall of supply at .03 at 12.50pm my time - needs to shift if we're to have a strong finish
Not sure I need to say anything about this, but 0.03 truly hammered out of the way and the wall at .03 is now replaced by another one at 0.033. Still, lots more buyers than sellers, and that ask has now firmly pegged itself at .03 rather than the earlier .027... nice. Might hit 0.35 by close, pullback in the morning, then... who knows... at $20M mkt cap with possible huge resource at Ntiola and Randgold down the road, maybe a mkt cap of $70-80M might be more appropriate - we shall see...
Watch the knockdown to 0.25 first thing in the morning - then I'm hoping will recover to 0.28-0.29 by end of play Friday
Consolidating at .025-.026 Looks like we'll have a subdued afternoon, although buy side still heavily outweighing sells - it was natural for people to take profit at .031-.032 last couple of hrs yesterday - See what next week brings...
With everyone still excited from last week, even an announcement of drilling commencing will effect the companies position. Truth of the matter is we could be looking at a 6 week interval before the next results. I just wonder how low it will go after this excitement has come to rest.
Firmed up nicely this afternoon and up five pips on close. Of course tomorrow is another day but still plenty of keen buyers out there.
If we stay over .03 tomorrow there should be little resistance towards .05-.06 I think (hope) - The Cyprus rubber stamping helped today to calm market worries, overturned cars, running street battles and major public outcries allowing... Oh and then there's NZ putting in place the same mechanism to sequest depositors' cash by July this year and ABN AMRO telling clients they're not going to deliver phyzz any more... Happy days eh? Ummmmmmm.....
