RE:RE:RE:MND Q1Sherry35,
Consider the following facts: - Mandalay Resources has the Costerfield mine which is the 6th highest grade gold mine in the World, and now we know that at depth at Costerfield we have another FOSTERVILLE as confirmed on the Q1 conference call!
- In terms of the share price, the market makers pushed MNDJF down to 3 cents in 2018, and forced most institutional investors out of the stock and reduced the retail investor interest in the stock, because the consensus at the time was that this stock was on the way to BK! Then in 2020, MNDJF made a secondary low at 38 cents USD after the stock had made a 10:1 reverse split. So between the reverse split and the retest of the bottom, I believe that most of the retail investors were all gone out of MND.
- Now the correct analogy of Mandalay Resources is Crocodile Gold which got taken out by Newmarket Gold at an insanely low price as I recall being one of the retail investors who had their CROCF stock stolen by the Newmarket Gold acquisition.
However, because Mandalay Resources has a shareholder rights plan, it would be no simple matter for a major or a large company to attempt a takeover.
4. Finally, the current share ownership structure at Mandalay Resources is insiders hold approximately 25 percent of the shares,
- CE Mining III MND Limited 23,236,296 25.5%
- GMT Capital Corp. 18,004,488 19.7%
- Ruffer LLP 17,344,688 19.0%
- AzValor Asset Management SGIIC, S.A.U. 11,239,529 12.3%
- As of the Record Date of the Annual Meeting, the directors and executive officers of the Company, as a group, beneficially owned, or controlled or directed, directly or indirectly, approximately 23,690,324 Common Shares, representing approximately 25.96% of the outstanding Common Shares.
Add those numbers together, and discover that these 4 institutions and MNDJF insiders now own or control 102.46 percent of the stock float in Manday Resources!
So that means that there are virtually no retail shareholders left,
So in the coming weeks and months when you see MND going from its current price to over $10 USD per share, it will be because big money knows this is another FOSTERVILLE and they will reprice the stock after the last of the small retail investors are out.
IMHO the current yoyo trading action is a few market makers trying to pick off the last of the few remaining loose shares.