Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
We don't know what happened to ukog at the moment, and we don't know why the EWT originally planned to begin in early December has no news at this time. But someone knows the inside story. The people who know the inside information are institutional investors, large shareholders and mms. Therefore, if ukog encounters a big problem, for example, the HH-2z horizontal well does not produce oil, then they will sell their stock before the bad news is announced, and they will short ukog stock. If this is the case, then the stock trading volume in the last week should have increased and the stock price has fallen. However, the trading volume of stocks has shrunk sharply in the past week, and the stock price has remained flat. This shows that they know the inside information, but did not sell the stock in their hands, then the problem encountered by ukog is not a big problem, but a problem that can be solved. So they wait and see.
This week's trading volume shrinks day by day, while the stock price remains at 0.95p. If today's trading volume continues to shrink and the stock price continues to remain at 0.95p, it means that the upcoming RNS will not be bad. Of course, if the trading volume increases today and the stock price rises, it means that good news will be announced tomorrow.
Today's ukog's transaction volume is 15.47 million, which is 10 million less than the previous day. This shows that today's transactions are conducted by PIs, and MMs are not involved in the transaction. MMs must already know the inside story about EWT. If it is bad news, then MMs will escape one step ahead of PIs, so the transaction volume should be enlarged. Now, the shrinking trading volume shows that MMs have not fled but are waiting.
Investors of ukog are waiting RNS about EWT.If daily average rate of over 2500barrels per day ("bopd"), the stock price will be above 20p. However, if the daily average rate of under 360 barrels per day ("bopd"), the stock price will fall to 0.5p.
Yesterday's trading volume was 75 million, today's trading volume was 13 million, the trading volume shrank sharply. This shows that investors are unwilling to sell and the stock price has reached the bottom. The market is waiting for good news.