It is important to keep a cool head with a stock like TRH, it is tightly held and can be quickly manipulated either way. The smart money buys on bad news and sells on good. We moved up up quickly and down even quicker.
Sentiment has shifted quickly with the share price....fair enough. But think big picture....we have historical data that suggests high quality potash and a lot of it. Our first drill location was on the western fringe of a massive target resource. Perhaps they were a little optimistic as to how far the resource stretched, I don't know. What I do know is we are 12.5% of the way through a drilling program which will form the basis for of a JORC. 87.5% is still to be determined. Is one drill result enough to justify a drop of 25% in share price?
Perhaps its the cynic in me but I think this is where the smart money wants the price..... accumulate, price rise, sell into positive drill results. Why make make a 30% gain on a price rise from 1.50 to 2.00 when you can make 50% from 1.00 to 1.50
Way up risk v reward. Is this project doomed? Is this a buying opportunity that sees you able to buy something 25% cheaper that you were able to yesterday? Have the fundamentals shifted?
TRH Price at posting:
95.0¢ Sentiment: Buy Disclosure: Held
