Post by
washerwoman on May 26, 2011 3:42pm
Speculation
It looks like over 90% of the shares traded today were bought by one buyer through TD Securities. This is likely the same person that was selling those small (500 share) orders at 48.5 cents, trying to bait sellers to lower their ask price. Nearly 100,000 shares were sold through Scotia, probably a single seller. I can understand why someone would want to buy at this price, but why sell 100,000 shares the day before the AGM? It can`t be bad news about VL because MOZ hasn`t moved at all today and it can`t be any other bad news because the market assigns no value to MOA`s other properties.
My current theory is that New Island has to sell shares today to make payroll for the month or pay bills. The greatest volume of shares sold for the last three months has been on Mar. 24, April 26 and now May 26, so this pattern has been repeating. Today`s buyer appears to be loading up before the AGM and taking advantage of someone else`s need to sell.
The AGM could be just an update on the little River Project and the drilling schedule for the year. In the near they will be announcing how they are going to finance the next year, they are pretty good at organizing their money before it becomes a problem. I am hoping they will leverage their antimony. My preference would be for them to spin off LR as a separate joint venture and hedge some of their future production so that they have a guaranteed price to bank on. It may be too soon, but from what I have researched an antimony mining and ore concentration operation could be built in less than a year, providing constant revenue as soon as summer 2012.
By the way, in the Dec. 21 NR did anyone else notice they drilled 18 holes but only described the results from 10. 5 holes were at Pouvoir and 5 in the Southern zone, some of these 10 holes found nothing. No drill results were reported for the middle of the property where the best trenching results had been reported previously and 8 holes were mysteriously absent from the NR. I always thougt it was odd.
WW