GREY:ALXDF - Post by User
Post by
production05on Oct 19, 2016 11:01am
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Post# 25360538
Thoughs - monkey hammering by a National Bank acct person
Thoughs - monkey hammering by a National Bank acct person Excellent news released by Alexandria on Cooper-Gold at the 1.8 km Zone 5 target. A person with a National Bank account decides it is perfect time to go ape mad to the tune of 2.2 million Alexandria shares sold in 22 minutes this morning.
My first guess is it had to do with flow-through financing shares. Alexandria announced that the first tranche of the financing closed on June 13, 2016. The hold period was 4 months. This person maybe was only in the investment to get the exploration tax breaks from the flow-through shares.
Again, that would be my initial guess for the unusual sales activity this morning, especially in light of excellent news. However, it is impossible to know for sure. Maybe things will settle down soon. Most subscribers from the financing were high net worth investors. Also, the shares were very concentrated within relatively few hands. I don`t expect this (particular) selling pressure to be too much of a lingering problem.