I have been at the bull sales between Warwick and Stanthorpe all day but, let me say that there is far more bull here on HC than there was at the sale and, what was at the sale, was excellent bull, believe me.
I must admit that I was surprised, and a little disappointed, by today's price action when I had a look upon arrival home.
Did it worry me? No way.
When I thought about it I realized that being Friday, and the fact that PIO is in the grip of traders, and that with the T2 that now exists for traders, when they realized that there were not going to be huge gains today, simply sold out again.
I reckon that Monday will see some positive price action but, the traders will probably continue to trade in and out so as not to have to come up with the cash.
I have been in PIO since Mt Jewell was sold to Kalgold North and so that is a long time.
Unless there is a massive disaster for PIO, I simply cannot see how the share can miss being hugely successful for those with the courage to ride it out.
The money from "the big hole " will give us the chance to prove up the other minerals that we are chasing that are more to the market's taste, such as cobalt and nickel. A decent announcement, on nickle or cobalt, will generate real interest.
The market does not have a clue about cesium and, the research that people do, is on grossly out of date information that tells them that there is no sizable market for cesium.
This is a stock with big potential but, it will require patience and courage to see it through to the rewards.
Lockitt
PIO Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
