Looks Like a New Base, page-20

Hi Sarg,

I wouldn't take too much notice of the visible depth. It can change at a moments notice. Often a few cents is all it will take to encourage more stock to market. On both the bid & sell side. A lot of people myself included don't like to declare their hand when selling or buying. Especially when one is up against program traders. As is the case with Peel at the moment.

I would like to see some sustained bidding momentum. The last 3 releases of drill results have only resulted in a collective yawn. Consequently I now think higher prices are only going to happen with the release of spectacular results or some other such really positive news. Maybe a depth extension ? Maybe an interim resource calculation ?

The market IMO is being unduly hard on the Peel price. Lol every stock on the H.C site probably has posters who feel the same way. Difference here is there is a rich resource & it is growing by the day.

IMO the market is looking for something concrete before any re-rate will happen. The speculative fervour that we experienced from October 2017 to January end of this year is now absent. Whether that is due to a wider spec market malaise i'm not sure.