Mind you even if the sale of Parker Range goes through, I expect a 2-3 day rally which will fizzle out (will sell into the strength). Generally for speculative stocks, the stock gets sold on news, unless there is some other milestone to speculate on.
Another example of a speculative stock that's getting no love because there is nothing for the market to speculate on even though it sits on a monster IO resource for its market cap (AVZ). 30% increase in JORC resource did not even lift the share price by 1%. Actually it has fallen by 25% since. You'll lose dough if you buy on fundamentals at the speccy end unless you are willing to wait like Buffett for a very, very long time and bear paper losses while the rest of the market stampedes up. The only way to make money on these in the short term is to buy on sentiment and get out before the music stops.
Ok confession, the only fundamental I would buy CAZ is that NM has got a higher entry price than me (same reason I hold AVZ).
CAZ Price at posting:
21.0¢ Sentiment: Hold Disclosure: Held
