More than Half the stock is held in the top 20.
This volume is flipper funds and traders playing for half a penny. A mate of mine does it for a living. I think the stock is circulating. There is little chance that the volume is pouring out of endless sellers as people can’t be that stupid to sell now.
It makes little sense. I’ve seen this before in stocks. It may also be several larger traders doing the same thing until they lose their stock. For those who can read and hold longer than ten minutes, the announcements are a clear lead into the future prospects of the exploration potential. This remains one of the best listed emerging gold plays I can find. 20km of strike straight into the jaws of NST’s latest discovery. Even if you forget all the other deposits currently being drilled and new targets outside that new strike conduit feeder.
I don’t think we will be waiting long before it becomes obvious that is a serious multi million ounce player close to becoming a miner this year. What will the EFT gold funds do then?
The company was in a lot of trouble a year ago and it no longer is. $14m cash and several open resources with a scaleable plant is one hell of a smart accumulation of assets. The company is still trading on what I think is a 3-4 times multiple moving forward and that is some way from NST’s and many other gold producers at 28x. This will jack up sometime mid year or on more exploration success. My no-brainer of the year award goes to this puppy. Dyor.
EAR Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
