My THeory about the Sept. 15th price dip Sonoro Gold Corp ( $SGO.V $SMOFF ) is up 4% today trading at $0.225, which is still a steal in my opinion.
This is great to see after a sudden stock price dip on the 15th. Many were confused by this because the dip happened after $SGO released positive PEA results. However I have some thoughts on why this might be…
Junior gold stock investors have not been doing great with their other gold investments (it's been a rough 3 months for many junior gold companies), so it is likely that many investors were using the good PEA news as an opportunity to dump some for their stock to try and salvage some profits from their portfolios.
This likely created a domino effect where people saw the prices dipping and some started panic selling.
It's just a theory but I think I'm on to something because it just dosn't make sense for a stock to dip like that after good news without something else going on.
Either way I'm expecting that we will see many more of these smaller increases in the weeks to come.
Full PEA results here: https://www.globenewswire.com/news-release/2021/09/15/2297872/0/en/Sonoro-Announces-Positive-PEA-Results-and-Updated-Mineral-Resource-Estimate-for-the-Cerro-Caliche-Gold-Project-Which-Demonstrates-a-Pre-Tax-NPV-of-US-68-7-Million-and-an-IRR-of-52-.html