Kincora Copper Ltd V.KCC

Another light selloff

[EnglishBay]

One seller today from TD dumping their shares (~300k so far). Not too concerned as we all know it takes very little volume to move the SP 20% in either direction. 

I am getting concerned about the lack of drill results/news so far though. I realize there is still 20+ drill results upcoming with the capital raise (so early days) and assay labs may be backed up in Aussie land, etc... BUT, KCC does have a bad track record of staying real silent on bad drill results and only releasing when they can spin it with other future plans. They were very quick to release those initial positive visuals.

Anyway, just a cautionary note. I highly doubt the small TD seller knows anything we don't.

[EnglishBay]

This guy really needs to dump his shares today....KCC on Sale anything sub $0.10

[babyofbullion]

I just added 155k on the bid at 8.0c and it was swallowed up within a couple of minutes. Time will tell if that's a clueless shareholder under pressure to sell or someone with knowledge of the drill results. 

[babyofbullion]

2.2m on the ask at 8.0 now. Too obvious to be someone who "knows"

[babyofbullion]

And it's gone. Strange behaviour here. Sorry for my spamming! Good to be on board anyway :)

[babyofbullion]

The 2.2m seller was jumping on any bids and coming off the ask straight away, with a flurry right at close. From watching the action I believe they are not fully out yet. Should be an interesting day tomorrow! I tend to think they are a forced seller. 

[EnglishBay]

I agree, was an extremely volatile day in the overall markets. Can create a bit of havoc for very illiquid stocks like KCC. Could open equally weak tomorrow like you said if the seller has more size to sell. Otherwise I expect it to bounce back to the $0.10 range fairly soon until news.

[Chipshot2]

It's one seller on one day. Who knows why this shareholder sold. I am thankful that buyers showed up and those buyers I would assume were happy to buy shares at this price. My feeling is that this episode had nothing to do with KCC and more to do with the shareholders situation. As always....J.M.O. Chip

[Chipshot2]

Watching the early day trading today, it is clear that this selling is more than a one day event as I has supposed yesterday. Clearly I was wrong! So far the good news is that buyers are willing to take everything offered for sale at $.075. The bad news is that it looks like there are at least another million shares for sale under $.10. Are they all from one seller? There are a couple of

[EnglishBay]

Sam Spring will be speaking at the Noosa mining conference today at 10am Aussie time (4pm pst). Likely just provide a broad overview of prospects and plans. But may shed some light on recent SP. Kincorra may also have a market maker that will buy up some shares today just to bring the price back up to a reasonable level before the conference.