TSXV:NORA.H - Post by User
Post by
blowshighon Jun 29, 2009 3:16pm
661 Views
Post# 16106384
Ugly
Ugly
Looks like Credit Suisse and Blackmont are the main culprits today - I actually had to blink twice as Credit Suisse sold twice UNDER the current bid at least thats what it looked like on my trading platform. Those were the trades that went off at .61 earlier today.
Someone put a 50k bid in at .64 to support the price and slow the melt down - it did for a bit now that those shares have been taken up if no one else is going to support the price in a meaningful way they will likely get it under .60 today. The number of 500 share lots going through certainly looks like programmed manipulation.
Stock has been pretty much down now everday for the last 13 trading days in a row...yeah i know don't sweat the short term price movements but it's just frustrating to see how much it feels like we are being setup right now
I had thought the initial sell off after the announcement would have been very short lived but I guess I was wrong.
I haven't been able to fully get my head around the markets precieved difference in value of O.K. pre-JV and now...
Does the market really believe O.K is now worth a whole lot less as a fully funded project carried all the way into production than when it was a junior explorer with a great resource and the big take-over carrot dangling.
I can't imagine any of us thought a 40% slide from the announcement of the JV deal would be in store for us
and no news anywhere in site for months to come Oh...other than PAAS making an unsolicited bid for the company at .75 or .80 cents. Considering they would be spending 300 million or so to get us into production for 55% when they could potentially spend an additional 100 million now and own the whole thing...I hate to say it but no one beneftis from the sp being decimated other than PAAS. Create a void of news by deferring the economic assessment for 6 months, which had the potential to revalue O.K. shares higher and knowing no new drill results will be available for months and you create a huge opportunity to steal the whole thing.