Drill results SP reaction. In summary, the first drill results had on overall positive implication on the SP. The next cut the gains of the previous day to even out. The next results accelerated the decline of the previous day and the final results even further accelerated.
In conclusion, the more drill results that come out, the more traders wanted to sell on news.
Considering each drill results essentially started a SP lower than the previous set of results, I would assume it profit taking from those who bought in a year ago or day trader cutting losses. To sell a long position when further drill results are expected does not make sense, you long for a reason...because there is promise.
Oct 23 had drill results for holes 7/10-10/10, fell 15.15% after falling 7.04% the previous day
Oct 09 had drill results for holes 4/10-7/10, fell 5.41% afer falling 5.13% the previous day
Sep 25 had drill results for holes 3/10-4/10, fell 6.41% after rising 5.41% the previous day
Sep 18 had drill results for holes 0/10-3/10, rose 16% after falling 10.71% the previous day
100% of the time, the day after the news...the SP increases over 5%. I would assume that today we will end no lower than 0.30 if the trend prevails, maybe even 0.31 considering that there was a slight increase in percentage gains each time.
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