RE:RE:Give your head a shake, mindless cheerleaders. If success I understand the trepidation, but this price movement doesn't mirror what happened at Chinook at all - we started the Royston climb up
with the prelim testing over a month ago, and got from about 1.40 CAD to 1.90+ CAD, and then we had a small slide until the next Royston release carried us to 2.50+ CAD... we have had a slow slide back down to ~2.30 CAD for 2+ weeks with no news, but that is still a big gainer from where we were pre-oil @ Royston news.
The market is hesitant with TXP after the chinook debacle, and I think there are plenty of people taking profits during periods without news because they are worried of the same thing happening, but this is different than Chinook where there was clearly people on the ground who knew early and the tumble downwards happened pre-NR and it happened fairly quickly. This is just market hesitancy waiting for the news confirmation.
Unfortunately, all of this to say: Royston could be a flop. But to me it doesnt appear that there is any negative information on the ground about current testing, otherwise I'd expect a much quick and more significant price decrease than we've seen so far.
Margin, Pros, Stan - please say you agree lol!