OTG when we see more data that is packaged into a PFS we may see a new level of buying from funds whom's mandate has been satisfied. Announcements around logistics, ie rail upgrade will also be something that will grab the attention of these institutions.
I myself thought this one would be easily north of 50c after all the announcements to date starting with the winning of the permit to explore. Very surprised to see it at these levels and to be honest I find it confusing. Not sure if we will see it below 16c again though because a lot of buying comes in when it goes sub 20c, most probably from funds.
I'm also not convinced we will see anything amazing in the share price anytime soon either, regardless of the pending announcements over the next few months, because sentimentally the market isn't interested in pushing this one that is reflective of the fundamentals.
However this is an investment for many here and although we would love to see this one at 50 - 60 - 70c now, we know that eventually the market will push it to those levels and far beyond because with a project like the one, how would it not??
CAY Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
