Month End SmashdownCoincidence that we get a selloff at the last day of the month. I think not.
There are people that are continually working to get the price down every day.
There was resistance again at the .385 level when it tried to move up the other day.
We also have a Frustration and Impatience because of the seeming delay in the granting of the Mining Lease. John Kaiser mentiioned that the Premier of NSW resigned and i looked it up and it did not appear to be any scandal just problems to deal with in his home life and he had enough politics. Cant say i blame him. Whatever the reason we are still waiting for the last link in getting this Mining Licence.
It will arrive. In the mean time Zero informs us that there has been a small financing. I dont know what this is all about but what it tells investors is that we get another small dilution below the trading price. This is what happens when investors are not kept up to date.
A lack of confidence = SELLOFF. All investors need is an update that everything is on track and moving along as expected. A delay smells like a problem and this is what the bears love.
I dont think this team will learn that investors want updates on what is happening within the company.
Insiders see everything that is going on because they are on the inside. Everyone else just sees the price action and the trading slipping and sometimes getting smashed back so it breeds panic.
Now some of the traders that sold at .38 for the last few days by back their position and flip it out again a few pennies higher. I am not against traders selling and buying back but this company does not yet see the need to keep investors in the loop and keep the trading orderly. Price always seems to fall much more rapidly than it moves up. The bears wait for weak bids and smash it back when they get the chance just like the bulls move the price up when there is no stock for sale at higher prices.
PDAC on March 8th is the SCY presentation so all we need is the MINING LEASE and a company update what is happening on the inside so investors know that nothing has changed.
Minor setback, frustration from waiting longer than we should have, beauracratic incompetence, impatience, all lead shareholders to question the situation and sell. Bring back the excitement.
Buy on dip.