There was a time I thought the SP would drop to around 7 pence. After monitoring the SP for a while I strongly believe the SP will move with very tight margins between: 8 pence (low) and 9.6 pence (highs)
Which all depends if we get an operational update this September/ early to mid October. Should an update not surface we could slip gradually in very small percentage amounts, making it difficult for day traders to snap quick volatility profits.
Might be achievable to trade but unless you have high volumes of stock to play with you could only skim profits of £10/ 15 pounds per trade. I will be tight! Which is why I haven't traded for the past week, but instead made sure cash is available SHOULD it dip to 6 pence or lower.
IMHO this is very much a virgin stock with SO MUCH POTENTIAL. They never struck a commercial gas flow, but DON't FORGET they have 3,500+Sq.K. to play around with when planning the next point for "Phase 2"
Cambay Yeah this is a production play with a HELL of a lot of work to do to bring it to FULL potential. To do that there will more than likely be more dilution, if we do the work ourselves, or the introduction of JVP.
RE: I DON'T NEED WEED, TO MEET MY NEEDS!14 Sep 2021 14:43
P.A., Think youll find most of those that have been put of by the recent decline have now gone (maybe a few left) and for those that remain, we givehe BoD the benefit of the doubt and await news flow as per "Phase 2"
Like it has been mentioned on and off, not all drills will be successful and as a virgin explorer we should expect this on our journey. One day we will (remainers) all be in a better place with HE1
The thing is regarding the SP there are two main reasons why the SP fluctuates; 1) Market sentiment. 2) Positive/ negative news flow.
I believe "some" people don't understand that the mm's control the SP (100%) - They are not going to lower the SP to low because like most of us LTH's we know what is around the first corner. You wouldn't sell a bar of GOLD for a quid, because you know its worth far more. This is a waiting game that's for sure, but it will be worth it!
Cambay! Our BoD are at the line, waiting for the starting pistol to fire!