RE:Captial Group Sell Offhereshoping wrote: Let's hope that the pounding of the bid is over today, perhaps Capital Group had a June 30 deadline to complete their liquidation?
BTW, the best way to discourage Metalhead is to ignore him, don't egg him on by responding directly to him IMHO.
As to MH .. I always said, it's not what you say, but how you say it. As a junvenile brat. From Photo elsewhere:
arge Seller Explained:
I received the following response from the co when I asked about the large amount of selling:
"The pressure on our stock is coming all from a major shareholder that is exiting (Capital Group). They told us that they are selling because they are getting rid of all their juniors that don't meet a certain market cap threshold. They have been selling since mid-may and that's where all this pressure is coming from. They've sold around 60 per-cent of their position at this point; I believe they have around 4.5 million shares to go.
It has nothing to do with the specifics of Excelsior. They told us that they are getting rid of all their juniors that do not meet a specific market cap; and that we were the last one left to sell. They said they have full confidence that Stephen is going to figure out the wellfield in that we're going to be successful but it just doesn't matter because our project did not factor into their decision." PG