I forgot to address 1 issue in my last post. That is the lack of retail buying.
It is one thing for fund managers to give this a wide berth due to a small & tight register. But why are the retail crowd also conspicuous by their absence ? IMO it is lack of the right marketing & scant attention paid to sustaining momentum by management. Results don't always speak for themselves. They need to be marketed properly.
I remember the days when Mark Creasy's Sirius Resources discovered the Nova Nickel deposit in the Fraser Range. The retail crowd was all over that stock. It too was a small register with i think less than around 100m shares on issue at the time of discovery. A registry dominated by Creasy himself. Sirius went from $0.05 to $5 in a matter of months.
People can say that weak hands are currently selling. That they are one of the reasons for the failure of this to make new highs or to even maintain the $0.70 level. But it takes both a buyer & a seller to make a transaction. On many days apart from the program traders there is little bidding demand. That is an area that needs to be addressed.
PEX Price at posting:
63.5¢ Sentiment: Buy Disclosure: Held
(20min delay)
