RE:RE:EDVRONNIE111 wrote: I would say that the main and perhaps only thing holding back EDV and most other gold companies is that the trading algos are programmed to buy and sell on the price of gold, and nothing else.
I think it's a bit more complicated than just that. Any outside selling or buying pressure seems to extend the downward or upward price for much longer than normal trading would. that is, it does not bounce back. I would guess non-algo supply/demand, gold etf movement and POG are all involved. POG obviously heavily weighted.
If you look at where it is now <$28, it's either looking at much lower gold prices than the current $1785. Or inflation hitting AISC. Or worried about Africa going forward.
It sure has been beat up. Our foul mouth poster usually marks the bottom with a rant but looks to be a bit early this time.
And this from a few days ago...to continue the share buy back program which is no surprise.
Endeavour Mining plc (“Endeavour”) (LSE:EDV, TSX:EDV, OTCQX:EDVMF) announces that it has entered into a new automatic share purchase agreement with Stifel Nicolaus Europe Limited in relation to its previously announced Normal Course Issuer Bid (“NCIB”), pursuant to which 4,321,531 shares have been repurchased since April 2021, equivalent to CAD 126 million (approximately US$ 101 million).
tC