Hello Peter et al,
I think that SUF news from RSA will be sparse until this valuation thing gets settled. That seems to be the way of things over there, and I doubt that SUF would want to get either side tee'd off at this point. I'd expect some sort of interim solution from both de Beers and the guv'mint today or tomorrow, with a longer term, negotiated settlement sometime down the road.
The market movements seem to be much like that of late: downside selling as soon as a decent size bid comes up. Looks like the seller from Commission Direct is still lurking on the offer. Too bad this silly seller doesn't realize that by leaving for a couple days/hours and letting the stock run, he could aspire to higher prices, but you'd have to ask why anyone would consistently hit bids rather than shopping the block around the street.
I haven't heard of any negative news regarding SUF at all, but then there isn't any good news either. The share prices of the NWT players (IAR,KLA,TQY,MIY,CAV) don't indicate any success yet; surely one member of a drill crew would have gotten word of a long intersection back to his broker. I think its just business as usual, and right now it is not exciting this market.
The only nagging thought is that its just too quiet out there, that probably something is happening, though I don't know if I can handle any more good news. ;-)
Regards,
Confluence |
