Hi Malay, Im not sure if I regret it but the price action does seem very weak.
To be honest, I believed that the discovery of the new seam, accompanied with news that the company is undergoing a farm out seems to be positive new and I thought it was going to result in the break of the downtrend but I was obviously wrong. The downtrend and the support at 0.9c is coverging and one has to break.
Also I thought that the missing seams 18 and 30 caused the price to be so cheap and that the new seam discovery would of compensated. Also, as the management said, the lower seams tends to be gasier however the market obviously didnt agree with me.
TNP Price at posting:
0.9¢ Sentiment: LT Buy Disclosure: Held
