Post by
Retiredgeo on Jul 08, 2020 1:52pm
Trading pattern
There is such little money in this stock ($400,000 today) it is unlikely that it is being manipulated in any great way by management or others. Perhaps "buy on rumor, sell on news" expains the year long trading pattern as well as anything.
The true measure of any penny mining stock is how it performs between press releases. I predict that the slow, upward climb of the last few months will continue on property potential. IOCG terrains host some of the biggest, richest deposits in the world. Hole 42 and the beginning of hole 46 continue to make the case that the Scadding mine property is part of a poorly explored IOCG terrain.
Some investors might be disheartened that there won't be any more drilling on the Scadding mine property until the end of summer (SELL!) but on the flip side there is also this regional IP survey which is pointing at new targets (BUY!). The big boys are surely taking a regional view of everything and investing their money accordingly. Someone is buying up all of these flipper shares. I doubt that it is mom and pop investors. Pump and dump also seems unlikely.
Comment by
Retiredgeo on Jul 08, 2020 4:10pm
Another 6 million shares gobbled up! That makes 14 million shares in the last three trading sessions! Mom and pop investors - my butt!
Comment by
Bullroarer123 on Jul 08, 2020 4:24pm
Go to Stock Watch and you'll see 9.8 Mil traded today over 9 Houses. More than just the TSX involved here. Regards, Bull
Comment by
Retiredgeo on Jul 08, 2020 4:29pm
You are quiet correct! I forget that this stock is also listed on an American exchange. So who in the USA is watching a little gold stock outside of Sudbury? The Sprott crowd???
Comment by
Computer on Jul 08, 2020 6:38pm
Poor Results I dont think so they have hit bonanza multiple times and this latest result represents shallow economic grades in a 200m stepout that expands a known resource -- but what is that to a shortseller!!