Canaccord / cueballOne more thing I should have mentioned in my last post cueball. When Canaccord was buying huge volumes in September 2006, the share price of AUC at that time was somewhere between C$0.16 to C$0.18, if I recall correctly. After the 5 for 1 consolidation that puts the majority of their GCX holdings at around C$0.85.
They did buy more shares when GCX was in the 60's but not as many. So I figure they are into this stock at a price of around C$0.80. I also think that this C$0.80 is a comfortable buy in price for them, and this is why they are buying so many shares right now.
Why they didn't buy more shares at C$0.60 I don't know. Maybe they didn't want to buy that many shares then because they wanted this stock to stabilize first, like most of us I suppose.
I do believe we both know that Canaccord does not buy junior gold mining shares to make a 20% profit. They buy them to make 100%, or better. So I think that if they are comfortable with this buy in price of C$0.80, so should we be also.
I do wish now I paid more attention in December, when we hit our high, to see if they were selling any then. I guess at that time I was too caught up in my own shares to notice anybody elses.
But at any rate, or anytime, I do not ever recall any huge volumes being sold by Canaccord, and as you pointed out, this is a very good sign. They could be shorting this stock like crazy, and as they did with Crystallex, which as it turned out was a very smart and profitable move.
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