Sometimes the SP is down because the SP is down. People seem to be thinking that there must be something wrong just because the SP is not climbing like it should given the news flow and so nobody is buying. Effect becomes cause.
Two other factors I think are holding back the SP beyond the usual. The first is the structure of the options was diabolical. Way too many were given to people without the money to convert and/or who only converted reluctantly. This has created a massive overhang on market as these people sell out for a few pips.
The second is I don't think the market understands the significance of ore sorting. It is too new (dispite being around for ages) for most people to see the value and how it changes mining.
Yes offtopic Tanzania looks like it is moving finally. ORR has an amazing resource there ready to go once the politics are resolved. Exciting times.
EGA Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
