RE: QuestionI don't know, but I can guess.
The outlook for the company is amazing. Cash flow around 0.30-0.40 per share starting next year, up to a ten-doubling of this in 2009, and the pontential at Cuatro Hermanos. Many people who do dd on this will want to take a position.
Now and then, a larger investor discovers VGM and takes a position of a million shares or more. This will raise prices in order to get the sellers out. Then the buyer is done and has enough shares. Other peole bought into the rising volume, talking about break-out etc. Then nothing happens for some time. The share price
declines on low volume because the momentum chasers get tired, people expect a correction etc. Then a new larger buyer comes by weeks or months later and the story repeats. Little by little, the shares get placed in stronger hands and we move up. As we get closer to production the frequency of new buyers will rise, and the share price will make larger moves and stay up. The pattern we see here is similar to so many other stocks before us. In my opinion, the best strategy is to build a large position, or not too small at least, sit tight and wait. We will move significantly within the next half a year. The recent runup from 0.25 to 0.45 was just a prelude to the move we will make next spring, in my opinion.
Cheers.