RE: Why is this tanking?For one thing, “Anonymous” has been hitting the bid quite aggressively. That probably represent some “cheap paper” that doesn’t want to annoy management by giving them a clue as to who they are.
For another thing, you might want to take a closer look at the drill results: The headline that was posted in connection with these results was, “Malbex drills 132.65 m of 2.1 g/t Au at Del Carmen,” but did you notice that this interval begins at 106 meters in depth. Is it economic to mine this ore at that level?
Probably not.
I had purchased on weakness, but, as it turned out, not at a price that
was low enough. Summing things up, I took a quick but small loss.
Technically, there is support at 0.48 and I would consider getting back
in at that price.