Share Price Manipulation Most of the indicators are in favour of a higher Trevali stock price:
- Zinc price is strong, hovering around $1.50/lb.
- TCs are at historically low levels.
- TV has plans to reduce its AISC - it has disposed off the high cost Santander mine and has plans for Rosh Pinah (RP2.0) and Caribou (ROL).
- The only remaining hedged production at start of 2022 will be 64.5 million lbs of Caribou production @ $1.25/lb.
Trevali has issued approx. 989 million shares. Glencore and insiders own about 261 million 26.4%) out of these. Institutions own about 103 million shares (10.5%). The public float is about 625 million (63.1%). The daily average trading volume is only about 2 million shares. Glencore and insiders don't participate in this trading. I don't think any shareholder who is part of the public float has enough shares to manipulate the market. So I am inclined to believe that it is the institutional shareholders who are manipulating the share price. Some of them have bared their intentions by publishing ridiculously low price targets.
To put a stop to this blatant manipulation, Trevali management needs to come out with a news release that there will be no dilution for RP2.0. Otherwise, these manipulators will keep having a field day.
I maybe wrong in reaching these conclusions. I will be happy if people share their opinions with me and correct me if I am wrong.
TIA