RE:RE:RE:RE:RE:RE:RE:RE:RE:African Gold Group Intersects High-Grade Gold at Kobada GoldI agree with you Wolf. This slumping share price really started when Bharti couldn't pull off that financing at 44 cents that he announced and then Sam Jonas resigned from the BOD.
I also think and wonder if someone or some entity is selling just to hold the SP down. I can't believe we're still seeing selling from any of the original management team/directors anymore or Jonas and the people he brought in based on the volume of shares sold in the last year or two.
There are two other parties I can think of that would have enough stock to keep a lid on the SP. One party would be Bharti and his group but I can't think what their motive would be given his cost is lower then what AGG is trading at. You would think they'd be happy to see the SP move up.
This is pure conjecture bordering on conspiracy theory but the other potential party could be Georges Cohen and RBX, who I think held close to 30% of AGG pre change in management and pre-consolidation. He would have motive as he has always believed in Kobada and the potential synergies between AGG and RBX. That's the entire reason he took a position in AGG to begin with. He's a sophisticated businessman who could have quietly maintained his position in AGG through various entities and is now strategically selling to keep a lid on the SP and enhance negotiating leverage in a potential future transaction with AGG. What goes against this theory is that if Cohen was serious about taking a run at AGG you think he'd be accumulating cash in RBX to put Kobada into production instead of issuing special dividends.
All I know for sure is there seems to be an inexhaustable supply of paper being sold through anonymous on a daily basis. Very frustrating!! GLTA and stay safe!