RE:Grading Discovery Hunters Pt. 2: Golden Lake ExplorationThanks for the link, that may help explain where the selling volume comes from.
It is from the PROMOTERS of this gold project, whom invest early to get the project going for the owners and then they cash out as they are not long term investors.
I have a friend who does this for business. He structures a public company and gets 200 investors at 5 cents each, on a project. Then they launch on the market at 10 cents per share. Most of these early investors exit the company at about 20 cents, as they are not long term investors. They are promised 400% return simply by investing early to promote a project.
All companies start in this manner and I do not blame them for selling as their business model is simply to promote a project.
The real investor is Mike England who has 2.9 million shares and has not sold any, even though he got the stock at probably .005 cents and is up 50 times. The project was his project.
Now that these early investors are almost out, it means that we will have solid long term investors for this gold project. That is what you want, you want the promoters out for good.
The other point I wish to make is that I expect GLM to deliver very good results, there is motivation for this as 14 million warrants are in the money at about 15 cents for October 2020, they want that money in their coffers, for drilling number 2.
The fact that they started at Hambury with 3 drill holes, where historically it was 50 meters of 2.90 grams per ton of gold, means that they want to show very good results to the market.
MPO