Yeah we have seen a lot of volume in the last week.
Way more than Usual. Obviously we have extraordinary things happening but if people are only buying short term what are there goals & how patient will they be when the trading goes back to normal (If it does).
However why sell now even a short term trader would have to wonder what the true potential is knowing a letter of intent has been signed by a major chinese company.
Sure some traders happy with say 10% return no matter what & don't care if they miss out on more.
Even though the letter of intent is just that intent with no actual decision it is hard to see why you would sell before they announce if it is to go ahead. If it were shorely the effect would be both huge & positive. IF it weren't sure will slip but how far? Not as much as the potential windfall IMO.
I believe from other companies that have letters of intent signed on things that we are looking at probably 30-45 days for that letter to be effective for (If people disagree please tell me what they think). This is usually enough time to go over the confidentail info & make there decision.
So then provided they decide it's worthwhile what will they want/get etc. Well we need a lot of money & they will get a substantial part of the company.
I hope this goes smoothly & expect maybe by end of Sept early Oct to know there decision so any short term trader would probably want to have 1-2 months as there term.
Unusal situation as this is a tightly held stock that doesn't trade a lot unless there is important info flying around. Will the traders mess it up?
SRK Price at posting:
82.0¢ Sentiment: None Disclosure: Held
