Energold Drilling Corp EGDFF

Metals & Mining Industrial Metals & Minerals

Energold Drilling Corp provides drilling services. The company's reportable segments are Minerals, Energy, and Manufacturing. Minerals segment provides drilling services in the minerals industry for parties principally in North America, Mexico, the Caribbean, Central America, South America, Africa and Europe. Energy segment provides drilling and other services to the energy sector in Canada, the U.S. and South America, and Manufacturing segment is engaged in designing, and manufacturing of equipment for water well, mineral exploration and geotechnical drilling companies. It generates a majority of its revenue from the Minerals segment.

GREY:EGDFF - Post by User

Energold Drilling Corp

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Post by coach247on Aug 01, 2007 11:15am

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Post# 13185363

big cross

Clarus pulled off a big cross this morning to take the stock down 20 cents, with 293,000 shares accounting for most of the daily volume so far. The sector is weak across the board, so its no surprise they could pull that stunt with a thin trader like EGD. When a big shareholder wants out, its common for a house to shop the position around to other buyers and negotiate a price for the cross, and then just wait for the right market conditions to swing the trade. The good news is that EGD has a very tight float and a strong balance sheet, so I doubt its hard to find other players looking to buy a big block when one decides its time to take a profit. If we do in fact have a growing hedgefund crisis and liquidity evaporates, that is something to keep in mind. cheers! COACH247

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