Good question. Someone couldn't wait to get in. Perhaps there has been a news leak? Time will tell.
Last trade thursday was 1.3 cents then someone rocked up Friday morning with a 500k order at 1.6cents (didn't even bother trying lower). I was tempted to drop a few and then buy back, however, didn't want to get caught short.
Then after open a heap of new orders appeared at 1.4 and 1.5.
CNX is cashed up for the short/medium term. AGM has now been and gone and the JV has the go ahead. Summa looks like a red-herring/ contractual bad blood (and desperate attempt to stall the company). Hopefully it will all be sorted come December 16/17 and thrown out?
It certainly feels as if the selling has dried up and it won't take much to see the price move higher.
Will be happy to see more days like this in terms of sp gains.
CNX Price at posting:
1.6¢ Sentiment: None Disclosure: Held
