RE:RE:Pan American Silver sells 2 MILLION shares of NUAG yesterday This is untrue. The only block of shares sold was by Pan American Silver. It was two million shares sold at $5.60. Check the Sedi filing. The directors were listed also as a disguise that more was sold but none of them actually held shares. It was a ruse. Pan American Silver still holds 22,704,068 shares of which you can expect continued sales , as much as once a week or whenever they find bagholders to buy it. They may also be distributing stock into the market on a dialy basis now that they have declared that first block. I can asure you there is now way I would be a buyer of this stock with PAA overhaging the market.
Also of note is the Rui Feng just resigned as CEO. Thats even a bigger tell that trouble is ahead for this company becuause Feng is now quickly distancing himself and putting a puppet in his place. There are lots of great gold companies to own that are still relatively cheap such as B2Gold, K92 Mining, Alamos, Orla and GTT gold. Why would anyone own this . Its a total house of cards. NUAG has no upside at all.
My six month target is .50 cents. It could happen very quickly once investors are stunned by the news that Bolivia never granted NUAG the land or any licences to mine it.