RE:RE:Rising price on low volume This is not a typical junior mining promotion.
There are many shareholders who have risked a position in ETG for many years based on a fundamental value analysis and the upside from appreciation of the resources/reserves and nearing cash flow to the JV partners.
I'm typical of many who have large positions accumulated over watching the OT story for many years. No thirty cent swing has me remotely interested in selling. And thus there is just very little paper out there. Management doesn't sell, there have been no underwritings leading to broker distribution or sales for years. No promotion to speak of.
Juniors puff and bluff when they are trying to distribute paper. ETG has been in consolidation for the past five years or so.
So anybody who sees the story, digs into it, realizes the upvsluation is probable either by a settlement transaction soon, or significant cash flow in just a few years, can't accumulate much paper without bumping up the price. On any volume. Even the flippers and traders are likely mostly washed out now.
I'd guess to loosen up a few hundred thousand shares we'll have to get up towards $1.75 or so. But I'm no trader.
what I do know is that the ETG assets are significantly more valuable held by OTLLC than by ETG because a buyout by OTLLC would give ETG's interests the same tax stability as now exists fir their current OT holdings, it would settle Mongolian ownership concerns most likely, and it would open up several optionality choices for Rio Tinto and Mongolia to expand OT and increase production into what should be an upcoming decade or more of robust copper demands and long term delays in development of new copper supply - decades of underinvestment and long timelines to production in global copper supply are going to make OT an extremely valuable project.
i think we'll get bought out, but we'll see. The price is nowhere near the ballpark yet. So I'd expect lots of buying pressure and good price appreciation here for a while.
And just maybe a surprisingly large premium to market proposal to wind up ETG completely and absorb all its OT properties into Rio Tinto and Mongolia's hands - the JV, mining licences, the Western 100% Shivee Tolgoi trend as well.
Looking good right now!
cg