RE: Up she rises early in the morning13 Nov 2020 09:26
Hi Folks
Some thoughts IMHO:
• There appears to be pent up demand – Folks have been waiting for pullbacks to enter –
Pullbacks didn’t happen.
They missed 2.1p/2.3p/3p.
• A large percentage of shareholders are LTHs who may exhibit the following traits:-
1. Written the investment off so many times that it is almost designated as a free ride.
I.E. The heck with it let’s go for it (the drill.)
2. Age – many older holders – financially secure - who can afford to hold through to drill.
3. Whilst many LTHs entered @ higher prices than today’s level there have been many, many opportunities to average down.
From anecdotal evidence IMO this has happened prolifically.
Whilst financially relatively secure as per point (2) – there is still the opportunity to make a “life changing” difference to LTHs re drill outcome which may be persuasive in retention of holdings.
• IIs who invested in placings have almost certainly completed their “flipping.” The residual holdings are now probably “free”/hedged and any retention held for the final result.
• All of the above translates into many holdings being potentially deemed as “RESULT” holdings.
They are not for sale therefore reducing the stock available to BUY by new entrants.
N.B. There may be a bit of “Buy on rumor Sell on fact” when RNSs hit next week as some of the news is in the price. This may offer opportunity for jobbing for short-termers or top up for long - termers but only for a short period (day or 2) until surge recommences as ICEMAX progress/ICEMAXCITEMENT grows. Those who have missed the boat literally and figuratively will panic buy.
P.S. TIB. – Nice postings mate – thanks.
GL
IK
XX
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