GREY:VAALF - Post by User
Post by
NORSASKon Feb 07, 2008 4:56pm
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Post# 14335116
re Peregrine Buyback
re Peregrine Buybacki just checked the chart on peregrine.
not 3 weeks after buyback, share price shot up from average of about $1.75 to $2.60
stayed at an average of $2.10 for about 3 weeks after that
before runup, there was a period of lower share trading
I'm NOT saying or implying this is going to happen with VAA
i'm just observing what happened after their share buyback program.
Long run, yes price did not hold in this case, but that could be explained in part to this statement from a news excerpt:
"Eric Friedland's Peregrine Diamonds Ltd. will try again next year on two Lac de Gras properties in the Northwest Territories, after failing to complete most of its drilling plans this year [2007]."