I think .11 will get taken out as 2.2m shares is a big ask, but it will hover 0.09-.10 for a while before an announcement, as it is all speculation at the moment. Its had its spike today and will relax a bit for the rest of the week. A few big buyers have been chipping away in last month slowly behind the radar and maybe just lost their patience today as time is ticking away. Most of the new bigger shareholders got in around Wayne King's time in late dec 2010/jan 2011 slowly and the recent placement at 3.4. Many are holding on as this stock has a long way to run. Otherwise a lot them would have dumped their placement stock triple their money and pushed the price back down back to 5.0-6.0.
So yes, my fun will get spoilt by the end of today, but it get re-started again soon with a resource upgrade and a positive formal acquisition announcement. The next hard step will be financing the project to get the Lithium out the ground and to market, which will mean capital raising or JV funds injection
ECM Price at posting:
49.0¢ Sentiment: LT Buy Disclosure: Held
