Other investorThe other scenario that may be playing out as well is I was also told that the other investor was attempting to accumulate shares at this level of .035.
Apparently, they were on the bid with over 2.5 million shares and now they are not there anymore at .035.
However, Mineralfields has right on their website that they prefer to not sell on the open market and if there is an investor that wants to buy a block of shares, then they prefer that scenario than to sell on the open market.
I suggested this idea to Kirk about Mineralfields wanting to sell in bulk off the market.
So the possibility exists that the investor who I was led to believe is coming in at .05 with a financing pulled his order at .035 of 2 million shares off the market in order to buy a 2 million share bulk from Mineralfields.
The machinations that go on behind the scenes are difficult for us to know.
Perhaps this is happening. There is some logic to it, but all that we have in front of us is .035 breaking down as support, we can't see the machinations: whether Mineralfields is stepping in at .05, whether they sold 2 million shares to the other investor, or perhaps the other investor has stepped away from the 2 million at the bid at .035 and has stepped away and reconsidered his commitment to CDO.
Three scenarios could play out here, and I don't have an educated guess which one. Obviously, my hope is that the information that I got of a new investor coming in with a financing at .05 and trying to buy more at .035 to increase the profitability of the position is the scenario that will play out.
I fear that the one that plays out instead is Mineralfields at .05. After a happy week, you will regret that alliance.