Globex Mining Enterprises Inc. T.GMX

Exploration update being digested

[poster46]

Earlier, GMX provided an encouraging update. Thanks, JS.

The market likes the news. Although there is not much trading, the stock is firming up with a few buys-at-ask by various parties chewing up the asks. 

Time & Sales

	Price	Size	Mkt	Time	Buy	Sell
	0.18	4,500	TSX	14:41:26	124	007
	0.18	5,500	TSX	14:41:26	124	079
	0.18	500	TSX	13:55:57	080	079
	0.18	1,000	TSX	13:55:57	080	079
	0.185	8,500	TSX	13:55:57	015	007
	0.185	1,000	TSX	13:55:57	015	039
	0.185	1,000	TSX	13:55:57	015	080
	0.175	10,000	TSX	13:42:07	015	007
	0.175	8,500	TSX	13:42:07	015	007
	0.175	7,000	TSX	13:37:14	007	007
e	0.175	410	TSX	13:07:39	143	080
	0.175	6,000	TSX	13:07:39	143	007

The primary seller is TD(7), and is acting as de-facto marketmaker. She replenishes and raises bids after making sales at the Ask. She's only slightly slowing down the upward progress of the stock price, while dampening any potential extreme price excursions. She's collecting pocket change along the way - if she's able to keep the price from getting away.

See the book, with bids now at .165, .170 and .175 all have grown in size, and mostly placed by TD(7):



Barring unusual market events, I expect GMX to go sideways in the .17-.20 range for some time.

Of greatest interest from the PR today, I would really like to know what sort of updated plan they've come up with for the TTM site. IMO, it would be a good idea to publish details, before shopping it to the investment fund sharks that have so far proven to be shaky backers. They have quickly turned to dumping untold amounts of flowthrough equity back into the market after a perfunctory waiting period.