Purely a guess, since that's what you asked for - but I'd say opening at about last night's close, then steadily back down as the day goes on with a close around the 73-74 cent mark. That's what the usual form is, just like MTN did. Profit taking from yesterday's windfall, then panic selling just in case it's a one-day wonder. Also, a dose of reality when the report is re-read and people realize this is just another exploration company claiming to have found possible uranium. Certainly a LONG way from producing anything.
IMHO, SMM are still the best bet within Australia, and PDN outside . I hold both of those.
Both are sitting on proven reserves, and PDN in particular is much closer to producing. Since the granting of the 25-year mining licence, they have become a longer term investment rather than a trading stock. SMM are still at the whim of Premier Pete and the Party for now, but the Feds have been talking to REALLY big players like CAMECO yesterday, and there may well be a Federal push for Qld to allow mining soon - and the plus is that SMM's uranium is not in the NT National Parks.
Just my 00.02 worth :)
MRX Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
