Post by
matthew77 on May 18, 2006 3:31pm
Conspiracy theories
I, for one, don't believe for a minute there was any kind of leak from FRP re: drill results. I say that because I know the people involved in this company and they are men of integrity. They do not operate in that fashion. They are company builders and mine finders, not promoters; they pay little attention to the day-to-day market fluctuations.
Having said that, one does have to consider what brought about the sharp decline Monday, and afterward. Personally, I bought some FRP Monday, at .48 cents, thinking the stock would find support at .45 and bounce back. The market overall was bad Monday. But the technicals have really broken down on FRP, and I believe that is probably the most likely reason for the decline we've seen. The stock is trading more on the technicals at the moment than fundamentals. If we can't hold above the 200 day MA, then I see a further decline, down into the low 20's perhaps. And then a period of consolidation.
To rant about a leak I believe is foolish. Everyone should take a deep breath and think about this as a potential buying opportunity.
Again I think the big picture is positive. FRP has an exciting uranium property that could very easily develop into a producer. Much more work needs to be done on this property. The initial drill results, as a beginning, are an excellent start. Let's hope for some higher grades in the next round of results. Consistent grades over 0.10 would be very welcome by the market.
Comment by
WPuget on May 18, 2006 3:43pm
Call it what you want but as far as I am concerned someone knew something before the general public did. As I said earlier - that disgusts me. This stock has cratered in the past week. And people like Sprott have been sellers as well. Yes, the stock is worth more than this on just the Greek property, but something is not right here and it is a shame.