RE:Kazzman
This stock has dropped more than 60% in two days ... that is significant and material.
The news put out yesterday morning before open was not considered bad news (relatively positive results).
It is the responsibility of the CEO to put out a release commenting on the market activity of the stock. There was nothing disclosed by the company to dismiss this tye of activity as related to any material change.
After all, the regulators at the Exchange will contact a CEO (company) on dramatic price increase with no material news and ask to explain the upward price movement. A press release by the CEO is required to comment on this unusual activity. He may simply say there is no particular reason he knows of for the price movement but at least he is commenting on the fact there is no material change.
Where is the release from D Moore relating to there being "no material change" outside of the press release of yesterday he is aware of.
This would alleviate concerns on
(1) any leaked news relating to the pending results
(2) any known activity the company is aware of that may spook investors.
If there is a PP in the works they do not have to disclose at this time but just say "nothing to report".
Point being ... SAY SOMETHING
The news release yesterday was deceptive to some.
A hole (182) collared from the same location as hole 180 and it should have been labeled "in-fill" due to location.
The news release headlined practically the exact same as Oct 18th release (very similar numbers and percentages) when in fact the Nov 13th headline was a an in-fill hole. This is dramatically different than the Oct 18 th release and could be considered receiving.
One would have to scour through the geological maps and conclude. Unfortunately many investors/traders look at headlines and act.
One may also say that holes 183/184/185 and 187 showed numbers in zones already included in the PEA of 2017. There was not a lot other than something really deep (>400m) in 183.
DId they show better concentrations than previously disclosed, maybe yes.
Market shorters are always out there and this stock may be a target. Hopefully that dries up.
However, these may be institutions/mining gurus with subscriptions etc ... already have plenty of stock or warrants to cover otherwise they would not entertain the activity.
They are possibly known to the management/insiders since they are large shareholders. Large shareholders are usually in contact with management on a continuous basis to get project/company updates.
Did they get info they believe was contradictory/vague/innacurate and respond accordingly?
Are they looking for a closed subscription (PP) and not getting it ?
They may be many reasons ...
Are they simply attacking the stock as a target without any of the above reasons?
I have no insight into the reasoning for this significant move down in such a short time but it is not right and bleeds the small guy. It is the VEx and this happens a lot without punishment.
It is the luxury of trading on the Venture.
However, comments from the company are necessary to at least say "NO MATERIAL CHANGE" and it is business as usual