Buyers jumped on at opening, hoping for a miracle but the steam ran out fast. Traders will start to bail this afternoon and liquidity will go back to normal as time passes.
NMDC and LCY would know what was on their tenement and short term, I cannot see them doing any drilling but just sit and let SGQ do all the work on their own land and then , maybe, do a deal in ten years time to use any infrastructure they have . LCY focus is iron ore, coal, phosphate and gold. This is what NMDC came to Aust for and their investment here.
Gap on open will get filled, the same on the other stock at some stage. Chi-X has already hit a mid day low on LCY after all the ramping on opening.
The above is my opinion only and not legal or financial advice
Watch out for speeding ticket guys!, page-60
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