RE: 'Below is wide open space'15 Dec 2018 16:02
Hi Swest,
Sorry: for clarity, I was exaggerating rather. Though it could get shorted to literal death, it's much more likely that it drops to a new level the market is comfortable with. Chances are that's here: 16.55p where there is large historical support. But there are other possible levels below. One in particular.
Especially as there aren't any actual open shorts. This, imo, has been completely MM driven and backed by the raise itself. It's why even non-retail placings almost always drop below placing price. Look at the round-number sells below 20p. That's not 'flippers', that's for sure.
MTR is interesting if you want to look at what could happen in disaster scenario. Though an investment company, they're within similar field in similar jurisdiction. Sense Sprott are offloading at a rate of knots.
Loads of exploration and production companies have of course gone under, but through their own crapness rather than shorting.
SOLG was 46p and dropped to 20p. That's where I thought IRR would stop...but the placing...
Ultimately, I believe class will out and this will be back around 50p again. But I have to say my optimism about £1 and beyond has disappeared for now. Chart doesn't fundamentally suggest that's the future. Would love to be wrong.
Get Ghana sorted asap and sell to pay for Chad. Suddenly the future looks rosier and no doubt the price will reflect that. It's all still in the ground after all!
There's some wide open space above to 20p too :)
ATB especially to yourself. Always appreciated your thoughts and positivity even in times of my own personal gloom.
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