49.5 million volumeMost of the yesterday's big volume had big blocks of internal trade crosses.
Definitely, it show some concrete ground why these block crosses took place after market hours.....
My guts feeling.say that ELR will continue be trading in upward trend next week.
The market makers brought down the share price to 0.63 cents last week and yesterday the same market makers brought back up to 0.80 cents, 0.17 cents up.
Now, wait for another 0.20 cents up, I mean ELR should be trading around $1.00 -$1.07 very soon.
The ELR always move in Oct.- Jan every year.
October 2009, I bought at 0.87 cents and sold in Jan. 2010 at $1.48
Last year, the share price went to $1.98 (Jan. 2011) from 0.98 cents (Aug. 2010)
$1.00 up in (5) five months.
This year Eastplats has a very solid financial position and has good strategic growth inspite of last (2) two bad quarters.
Over $325 million in the treasury
A credit line of $100 million
and No Debt
Eastplats is developing two new projects - Crocette and Mareesburg - that will result in 100% growth in the next year, 2012. The growth is the only real strategic initiative. The management definitely do not intend to diversify into other metals and geographically as well and as South Africa is where 85% of pgm's come from.
Now, wait for another 0.20 - 0.30 cents up, I mean ELR should be trading around $1.00 -$1.07 very soon.