RE: Maybe NOT-RE: Conspiracy Theory Maglicc - I think you hit the nail on the head. Observe that Stonecap and Dundee starting selling large positions over the past 10 days or so - they upset the delicate balance in this stock. Mutual fund redemptions are causing forced selling. This story has been the same across the whole junior sector.
John Embry's comments on this from earlier in the week:
“Gold funds themselves, they are getting redemptions. If you get a redemption and you are running a gold fund, you’ve got to sell, whether it’s a good idea or not. That’s an issue.
I think there has been a total give up. I’ve been around this business for a long time (49 years), and I remember what happened post Bre-X. Exploration stocks were on the moon when that thing blew up and we went through a three and a half year period where it was just deadly, there was no interest.
I would dare say it’s worse now and yet you have a gold price which is six or seven times what it was then. It really is remarkable and it’s a testimony to human psychology. This is one of the truly great buying opportunities of all-time.”