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There will definitely be a flood of sells - that's not a reflection on the company itself, just investor psychology... there will be a lot of people that jumped in at .15p plus hoping to ride this all the way up in anticipation of an imminent RNS that have now spent the last few days panicking as it drifts... a fair number of those wont want to be in something this volatile now they're being given the opportunity to cut and run
To be fair the company haven't said anything about the EPO being signed off - this is all off the back of local press reporting on one throwaway comment from a deputy mining minister to a reporter, in which he didn't even get the name of the company right. I'm not saying that they wont get the EPO, I'm just saying that I'm not taking that 'news' to the bank....
Indeed - the EPO at least should have been a case of putting pen to paper... the delay in doing so is starting to suggest to me that the gov minister jumped the gun in announcing it to the press, and that EPO is not yet a ‘done deal’
Yes, in order to either provide clarification re. media speculation or confirm they know of no reason for the movement... they’ve already issued the RNS in response to the Zimbabwean press articles announcing that they’d been granted an EPO
I can understand the frustration - this has done all the right things so far: leg up, nice consolidation, so SP drift... if transformational news is all but guaranteed for Monday I’d expect a rise into close today too
Anyone claiming that the SP is drifting, or about to start drifting, clearly isn’t paying attention. The trading volume is holding up, and the price is clearly bouncing off a resistance line not a support line... 0.1p will go, it’s just a matter of patience
Rt - complete myth I'm afriad...
99 times in a hundred a 'Code 1' is someone running a dummy buy/sell and accidentally hitting the wrong button... then kicking themselves because they paid a £4.99 transaction fee for all their efforts.
Contingent on whether or not there's confirmation of the signoff surely? Without it I think there will be a couple more attacks at the 0.1p barrier before it's eventually breached; probably a leg up to 0.12 - 0.15 from there... anything else is dependent on the RNS landing though
(All IMO)
There's been a few separate attempts to push through the 0.1p mark today... definitely up against some resistance from sellers though. I do think that once that's gone then there's another leg up, even without news
Psychological barrier (for PI's at least) at 0.1p - if that's broken this afternoon then it may push up significantly into close... that's a big if though!
Obviously the more this rises before news the more that news is priced in... assuming the news is as everone expects then I still see a healthy gain off the back of it, but perhaps not the fireworks we would have see if the news had landed a couple of days ago
My advice - don't get too hung up on what you or others perceive to be fair value... if you're in from (I assume you mean) .043, then you're 'little profit' is actually close to a 100% rise. If you're remotely uncertain then top slice - you've still got skin in the game and you've worked a position where your worst case scenario is that you're back to where you started.