...the reason for the SP increase, other than just jittering around the 0.75 to 0.80 mark. The current spread is 13.33% so the MM's are making a nice margin, however only 39 trades today. Yesterday's appointment has added another 10 million shares to the 3.79 billion issued although with inbuilt delays up to 3 years the sentiment is still there with BoD throwing them around like confetti.
Of course, I agree there will be an increase in SP pre-spud and timing will be critical to either sell with a profit or gamble on a strike. Like Nam' it's a gamble with 'best guess' odds. Let's hope the coin-flip is in our favour this time.
I wouldn't necessarily say that interest is building here on a 7% rise, we had similar earlier this week (or was it late last week, can't quite remeber). This share has been hopping between 0.7 & 0.8 for some time now. We will however see a rise in SP pre-spud, but I personally don't see the sentiment changing until we're above the blessed 1p mark. And I think we're a little far out from spudding for people to start accumulating shares.
My best guestimate pre-spud would be around the 1.4-1.6 range. Maybe a little pessimistic, but we will not see the levels pre-Namibia. Dilution and the like have knocked that on the head with a rather large hammer.
Apologies for being a grump but either way, buying at these levels is a win win.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.