Distribution continues but you have a buyer too For the last few days there has been constant dumping by number of institutions. Yesterday Raymond James sold & UBS bought. Today the same thing. While this dumping continues there is one buyer UBS that is buying & stands out. There was some buying by Dundee too about two days back. Today Dundee has crossed some shares again but is a net seller for the day so far.
Let see how low these sellers will take down the stock. The lower the share price the better to pick up shares & flip them With every drop in share price the potential to make money increases.
The bottom line is that the company is not going bankrupt soon & trading at a discount to the cash on hand & other massive assets. They got to have some value on a fire sale too.
This stock has amazed me for trading so low & such a massive discount. I have seen companies trading much better even when they go into creditor protection & the share value is zero. Last time when Air Canada went into restructuring & it was made clear that the value for the existing shareholders was zero. The stock still not go below a certain price & would bounce from time to time.
I seen the collapse of share price of many companies & some even going bankrupt, but I do not remember if any company has been so harshly punished by the market as ELR based on its cash position & other assets. At $.075 the company market cap is around $70m.
| House Positions for C:ELR from 20130425 to 20130425 |
| House | Bought | $Val | Ave | Sold | $Val | Ave | Net | $Net |
| 15 UBS | 1,617,000 | 121,290 | 0.075 | 0 | | 1,617,000 | -121,290 |
| 7 TD Sec | 1,078,355 | 82,018 | 0.076 | 302,900 | 24,202 | 0.08 | 775,455 | -57,816 |
| 85 Scotia | 439,150 | 34,092 | 0.078 | 75,100 | 5,807 | 0.077 | 364,050 | -28,285 |
| 79 CIBC | 480,309 | 36,879 | 0.077 | 125,900 | 9,667 | 0.077 | 354,409 | -27,212 |
| 2 RBC | 152,402 | 11,892 | 0.078 | 48,500 | 3,745 | 0.077 | 103,902 | -8,147 |
| 19 Desjardins | 88,000 | 6,755 | 0.077 | 0 | | 88,000 | -6,755 |
| 9 BMO Nesbitt | 75,000 | 5,660 | 0.075 | 18,500 | 1,477 | 0.08 | 56,500 | -4,183 |
| 62 Haywood | 50,000 | 4,000 | 0.08 | 0 | | 50,000 | -4,000 |
| 33 Canaccord | 20,000 | 1,500 | 0.075 | 0 | | 20,000 | -1,500 |
| 124 Questrade | 15,450 | 1,206 | 0.078 | 10,400 | 780 | 0.075 | 5,050 | -426 |
| 80 National Bank | 11,300 | 843 | 0.075 | 7,666 | 597 | 0.078 | 3,634 | -246 |
| 88 Credential | 3,000 | 240 | 0.08 | 0 | | 3,000 | -240 |
| 39 Merrill Lynch | 1,000 | 80 | 0.08 | 0 | | 1,000 | -80 |
| 81 HSBC | 0 | | 20,000 | 1,500 | 0.075 | -20,000 | 1,500 |
| 36 Latimer | 0 | | 72,000 | 5,760 | 0.08 | -72,000 | 5,760 |
| 1 Anonymous | 338,000 | 26,080 | 0.077 | 688,000 | 53,370 | 0.078 | -350,000 | 27,290 |
| 27 Dundee | 8,454,200 | 591,794 | 0.07 | 9,660,200 | 682,244 | 0.071 | -1,206,000 | 90,450 |
| 89 Raymond James | 0 | | 1,794,000 | 135,180 | 0.075 | -1,794,000 | 135,180 |
| TOTAL | 12,823,166 | 924,329 | 0.072 | 12,823,166 | 924,329 | 0.072 | 0 | |