low volume in XRC / XRAthe volume in XRC / XRA is drying up. Hardly any trading. Short trading and short positions rather stable. No major price movement. The share price seems to be almost managed at certain levels.
So, why is the volume drying up?
Expecting news?
Well, XRC is to publish more drill results on Caspiche within the next 6 to 8 weeks. But this is not really a reason for the drought since it is rather normal that an exploration company is drilling and publishes drill results on a frequent basis.
Rumors?
I am not aware of any. But here in Europe I am not really at source. Has anyone some gossip?
Seems that no one is willing to sell XRC shares at these levels. The reasoning behind this thin volume must be either that XRC is considered as a long term investment or that some people do know that there is something going on. Well, management has clearly stated that a take-over will not happen this year. Thus, supposedly it is a block building in XRC or exciting drill results.
Any views?
As always
DYODD
Do Your Own Due Diligence