GREY:VITFF - Post by User
Post by
HoneyBadger77on May 12, 2023 11:50am
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Post# 35445538
Retail Investor Reaction - Right On Queue
Retail Investor Reaction - Right On QueueDoes anyone on this board seriously think the VGCX share price will still be at $9.00 in another month let alone by year end if VGCX meets or exceeds their production targets and current gold price holds or goes higher? A little 'Creative Accounting' and retail goes into panic mode.
Yet even after today's little set back, VGCX shares are still up 13.04% in the past 6 months and 29.16% YTD.
As per the recent AGM minutes, 83 shareholders hold over 37 million shares and based on today's share volume I don't see them going into panic mode to sell. Infact, they're quite likely picking up the retail sellers shares today because they are looking at the big picture (a much higher share price and this company eventually getting taken out).
Today's retail sell off of VGCX looks a lot like Wesdome's (WDO) sell off yesterday (both down over 10% at one point). Typical knee jerk reation to news but look at Wesdome share price today.
There are only a few producing gold mining companies in Canada that are attractive takeover candidates and VGCX and WDO are two of them. They've both got their issues right now but as concerning as things might seem now, maybe that's a good thing if the potential buyers are holding off hoping for a better price. I sure don't want to see VGCX getting taken out at anywhere near today's price and pretty sure many of the long term VGCX shareholders don't either.
In the end the 83 shareholders holding the over 37 million shares will decide what this company is really worth and gets sold for and I suspect they're looking for a lot more than $9 a share!
As the old saying goes, Get In, Buckle Up and Hang On! Close your eyes if that helps...Lol