RE: Someone bought 350K at $0.14...Tanzania is known for hitting some huge gold. Better than anything we would find locally in most cases.
It's clear that the market was waiting for some news regarding drilling. Now that they know drilling has started on both projects, it gives reason for buying interest. I think 20 cents is steep considering they haven't proven anything, but I think we could easily hit 17-18 cents, probably with support settling at 14-15 cents until drill results come out. If the first result or two is huge, we will easily pass 20 cents, if not more.
But with that being said, everyone is buying on speculation right now, so if the first result is bad, we will probably see severe sell off. For those of you who have never been in a gold play, you might want to do some DD first. Because these things can go from 200% gains to 200% losses in a matter of 1 or 2 trading sessions. Need to be careful. With that being said, these things can go from 10 cents to 50 cents on 1 great result.
Go take a look at the ownership -
https://apps.cnbc.com/view.asp?country=US&uid=stocks/ownership&symbol=cui.v
About 11 million owned there.
That only leaves roughly 50 million shares left. Lots of which are tightly held. That means what's left is not much. Float is low, so big buying volume = big gains.