RE:sold 30K (12%) of my shares today @.23You gotta do what you gotta do but there is a hazard that shoots long term holders in the foot when they exercise selling in a rally before a capital raise. Selling reduces the price at which the company can raise capital, results in greater dilution and all existing shareholders lose.
For instance, if GRIT came along and sold 1 million shares into the current strength like they did last year, they would kill the rally just like they did last year and make it very difficult for the company to raise capital for Karita and Diakha drilling, as well as keeping the corporate running. As it was, a small raise had to be done at .15 which was well under what it should have been and I put all the blame of that on GRIT's bad move at selling into the rally last year. It put a gloom on the stock and it sunk below .10 before recovering enough to do a .15 raise.
I would prefer to see shareholders wait until after a capital raise to sell, or at least untill all the Diakha drill results are in. Everyone benefits when a company can raise money at the highest possible level.
This is still a tiny company and the market is fragile on a number of levels, not the least being that small junior explorers are one of the least favoured sectors on the market today. It doesn't take much to turn investors bearish these days.....the good old days of unbridled buying are over, probably for good although this sector should get better in time. A few years ago, this stock would be over $1 with the news flow it has had.....that indicates just how difficult this market is for these kinds of companies today.