Market makers are doing their best to profit as much as they can all the way up. They have been doing it all the way up from .033 cents and most likely before. The more they can confuse the average investor on the way up the better for them. I am not good at trading in and out for a few pips. I get about as many right as i get wrong so I don't bother. I don't want to let a few pips cost me a few hundred grand here in the next few months.
Todays announcement has just planted another seed for the future above and beyond what's already known. As it has come from left field expect more of these. Once again, Management have sourced a Project area for minimal administrative costs which is already advanced in an obviously prospective area. In a few months there will be an announcement that these leases are granted and exploration has started which could easily be fuel for a 2-3 cent move once we are in a much higher price range. That announcement will definitely come and could mean 40 or 60 grand extra in my account so I wont fiddle with my existing shareholding. Only add to it. There is zero downside to todays announcement that I can see. Its like an extra free chance in already very undervalued stock. At worst those occurrences will generate extra low risk profits via toll milling that could pay for exploration and drilling in an obviously high grade area. This could lead to more high grade satellite deposits or a much bigger discovery. All this potential for negligible cost.
In the meantime, the stock should continue its rise with the normal games being played as usual imo.
EXC Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held