MOX and ERD tax loss selling, and China coal useTwo almost equally large amounts just crossed out of both ERD and MOX at a much lower price. This looks to me like someone has sold for tax loss purposes. Now the real question is how many more people are really wanting out as opposed to really wanting in?
When this market turns around (which could take years!) it will turn around hard. One has to wonder why someone would dump at 10 cents when the company just raised money at 14 cents....
Here is to hoping for some great new holes and a million ounce 4101. Not that hope ever made me rich, but it certainly makes me happy.
Also the chinese have commited to peak coal by 2020. That means that they will have to build 1000 nuclear reactors or gas plants. Both of those could spur huge increases in Moly demand. Funny enough ERD has the largest moly deposit in Asia in Zuun Mod. It is permitted as well. Currently the market has 0 interest in this deposit but in the past it may have valued it as high as 50 million (like in 2011 when ERD was 1.75).
Time will tell. Good luck Peter and crew!