EAS.v - AMDAL any day! Rocket up againIndependent Mexico Mike update:
I just spoke with the prez again this morning for another update. I had forgotten that a large chunk of warrants are now in the money and as they are cashed in that will bring more cash into the treasury. I think that explains some of the volume recently as well, since people usually like to sell stock in the market and then write a cheque to exercise warrants. I think there is some speculative trading volume too just based on price action and day traders love these penny stocks when a sector heats up. Plus, there is a lot of positive news flow in the works that will be a catalyst for intraday pops in the share price. On deck, I am expecting the AMDAL announcement in the days ahead and hopefully shortly after the company will follow up with guidance on development options to get some idea of production plans and longer term growth.
Terry mentioned that local illegal miners are working Sangihe right now and that is a good thing because it is the most effective form of prospecting. Where the illegals are active is where the gold is, and they just literally scrape the surface. He plans to offer good-paying jobs to the illegals instead of just kicking them off the property, which is also a good strategy to maintain positive local support.
I put in a bid today to try and catch a few more cheap shares, although 'cheap' is relative because I am just buying back some that I sold earlier on. But I see this one moving higher along with gold and therefore the dips in price are good chances for me to build up a larger position. This is a different story now than when I bought just a few weeks ago @ 5.5 cents. The risk level is lower and will be even more attractive when the company confirms certain objectives are in hand. I would say the market already knows the AMDAL is coming but until its confirmed its still a positive news item for the next move higher.
cheers!
mike