Why the Strategic Elements (ASX:SOR) share price is rocketing 36% higher today
James Mickleboro | January 20, 2021 12:52pm |
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Strategic Elements Ltd(ASX: SOR) share price has been an exceptionally strong performer on Wednesday.
At one stage today, the technology-focused investment and development company’s shares were up as much as 36% to a record high of 92 cents.
When the Strategic Elements share price hit that level, it meant it was up a remarkable 475% in the space of one month.
So, with 378.4 million shares on issue, this gave Strategic Elements a market capitalisation of ~$350 million.
Why is the Strategic Elements share price rocketing higher?
China, Brunei and regional economic diversity
TAIPEI, TAIWAN – Brunei, an oil-rich nation in Southeast Asia, watched with near horror as world energy prices fell from 2014 to 2016. Reserves were running out. Its lifeblood of 80 years at stake, the tiny, wealthy country is looking for other sources of prosperity.
China is offering to be a source, and it’s China that stands to prosper politically video on iphone.
Chinese President Xi Jinping agreed to support joint exploration with Brunei for oil and gas, likely in a rectangular block of the South China Sea extending from the Bruneian coastline on the island of Borneo. That’s Brunei’s exclusive economic zone, but China says some of it falls under its flag.
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