riv trades like this because it has a lot of off shore funds doing crossings. it also gets shorted a lot at different times. The shorts are not big because the stock tends to be computer traded. This effects the price.It trades hundreds of times a day in small lots. The stock does well when they cover. I think the recent coking coal prices had a negative short term effect, but the prices should have already been factored in to the price regardless. The stock ran after being completely oversold. riv should have a lot of news over the next month or so.. Bankable [they have the money to build the mine, so its not a must], drilling results on the lease next door, mining approval since the application was lodged a while back and the govt have given riv the full speed ahead ticket to develop the project. The granted licence should bring with it a lot of news since things tend to really get going then. The coking coal price of $129 and the fact that the coal quality is top rate, means that riv is set to prosper in production. I am sure that their costs will be very low given its open cut etc. RIV can print money in production and the company have hinted they expect to get this show on the road quick smart. I also like the fact that quality coking coal projects are few and far between. Any pull back will be short term. Looking to re enter and top up on further weakness. dyor.
RIV Price at posting:
$3.22 Sentiment: Buy Disclosure: Held
