1.The market is waiting for 'proof of concept' to make sure that an increase in production can be achieved
2. The Chinese may be keeping a cap on it. It appears that under corporations law they are required to make a bid as they have flagged their intention. Consequently, it would be in their best interests to make it seem like the stock is going nowhere so that a mediocre bid has a chance of succeeding. It may not be enough to get them over the line with the key holders, but could see them pick off a solid percentage. It is essentially an investment in an annuity now that the GSA is signed; and a long term view at a low entry point could prove very lucrative.
My money is on #2; however the low volume is a bit strange.
WCL Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
