RE:RE:hopefully that dump to 1.95
this dumping is because the mining fund rebalance ... its a shame but a good buying opportunity....
from Terangas CC yesterday:
"Unfortunately, our recent share price performance is not reflective of our strong fundamentals. Let me shed some light on what is impacting many junior gold companies today. On April 12, VanEck formally announced a change in the methodology for the Junior Gold Miners ETF, otherwise known as the GDXJ. I say formally, as early as the end of March, the mark was already forecasting the potential for massive rebalancing. The reason for the change is that since early 2016, the fund has grown fivefold from about $1 billion to over $5.5 billion today. Essentially, the GDXJ has too much capital and not enough companies in the index in which to invest. To rectify this situation, the GDXJ is adding larger companies into the index. In order to accommodate the new additions, the Junior Gold companies are being down-weighted by $3 billion or by more than 50%. The official rebalancing is set to occur after markets close on June 16. However, the GDXJ has already begun to sell shares, including ourselves. This is not only impacting Teranga, but many of our peers. The overhang caused by the GDXJ rebalancing is a one-off situation that will end."