RE:RE:RE:RE:RE:RE:RE:RE:Another light selloffWatching the early day trading today, it is clear that this selling is more than a one day event as I has supposed yesterday. Clearly I was wrong!
So far the good news is that buyers are willing to take everything offered for sale at $.075.
The bad news is that it looks like there are at least another million shares for sale under $.10.
Are they all from one seller? There are a couple of different brokerages involved, Anon, Instinet and primarily TD, but that doesn't mean it is more than one entity selling. Could be one seller with multiple accounts.
From what I can see 300000 shares have traded as of the time of this post. That's on top of 3.3 million yesterday.
I still think this has nothing to do with drill results. The only significant development that has happened recently from the company is the AGM circular indicating that they want approval to have the authorization, if deemed necessary, to execute a 3 for 1 rollback. Did that push a major shareholder to sell?
Or is it a decision made by a shareholder based on nothing to do with KCC?
Let's see how the day develops.
Chip