Corporate spanking and WTFAs I write this, we have seen SP goes thru $4.00 This is nuts...we are being Spanked
Not to be too paranoid here ( I think I am in good company), I suspect what we are witnessing is a corporate spanking. The upward price pressure that we saw in the late spring was unsubstantiated, and something other than "Gee we are going to drill a ton of meters" caused the price to go from 7 to 10 in a month and a half. I would guess that some of our Angels have taken flight. Back in Mid June, somebody was looking to accumulate us perhaps for a deal, or on rumors of a deal. That deal has since gone sideways is my guess....either we got way too rich for a deal, or was was talked about was refused. Speculation by me is that we were being chatted up, and seemed receptive, and then we broke it off. What you are seeing since then is the Tsunami like wave of selling that begets more selling once the break off date passed. Not to say the market in general hasn't taken a beating as well, but we seem to have been spanked way more than most. They have since lost faith in the story or management, and are showing their displeasure by finding someone to take their shares. Stocks rarely tank unless there is bad news. They mostly die on the vine from lack of support. I have seen no bad news.....nothing that would make you jump out a window, but many shareholders have done just that.
Even with all the buying, the support level has dropped significantly.
WTF
In the world of news, the headline is incredibly important. If you dont know ATAC, and you see a headline that something named Conrad has been extended, who cares.....if you are trying to draw attention, you give a number...and many of them in the press release are spectacular.
Stockwatch....Atac extends strike length to 400 m at Conrad zone
ATAC website....ATAC Resources Extends Strike Length of Gold Miner..
Mineweb.com......ATAC fills in the gap at Conrad
GoldMinerPulse...Extends Strike Length of Gold Mineralization at Conrad Zone
Extending the strike length is cool, but only if you know the story....what seems really cool is that we have a mountainside that has gold from quite high up to the bottom and beyond, and we now have a mine potential that is solid? Now ...I know we are not promoters, but this is a little too reserved even for my liking. I am sure Vanessa would loved to have put out not just a bunch of numbers, but a story, prefaced by a great headline. I think perhaps the time they spent recently at the shows were rather wasted in that they didnt have the goods to flaunt and attract buyers for the stock.
Imagine if the headline today had been
1 KM vertical mountainside found to be rife with gold mineralisation with values up to """ and then pick one good interval"""""
Would love to know what the trenching at the base of the hill is going to show
Almost every one of these highlights should have been a separate press release.
- Conrad Zone extended to 400 metre strike length and remains open in all directions;
- Diamond drilling confirms gold mineralization at the Conrad and Eaton Zones coalesce into a larger Conrad Zone;
- Total vertical extent of drilled gold mineralization between Conrad and Osiris is now in excess of 1 km;
- Six diamond drills will continue exploring Osiris, Conrad, Isis and Isis East into mid-October;
- Surface orpiment and realgar showings have been identified at Dale and Pyramid Zones located 12 km and 24 km west of the Osiris Zone, and the Ptah Zone located 1.25 km northwest of the Conrad Zone; and,
- 15 of 19 released drill holes at Conrad have intersected significant widths of gold mineralization in excess of 3 g/t gold.
As I write this, we have seen SP goe thru $4.00 This is nuts...we are being Spanked
Note that its the board that approves the releases.....they should be a lot busier. If they want to add some more cash to the kitty, its got to be at prices higher than this, or we/they are all going to get diluted way too much.
Cheers
MC