So over this long weekend we are left to wonder why anon was unloading all that volume yesterday. Savage brutal close at $ 1.19. Our market cap just under $200M! Note that there were buyers scooping them up just as quick.
Could it be bad news that spooked a major investor in the know? Could a few investors flee to other "safer" plays? That many stops triggerd? Shorts, no... but maybe. Our value is evaporating and imo it is a deliberate move. Correlates with last summers action. It's the only thing making sense here.
Even if you consider how a certain analyst at Genuity/Cannacord has set targets for our SP over that last few years (shown below), are we a triple from here with deep drill news?
Genuity/Gray SP Targets:
2/08 = $7.00
7/08 = $7.00
10/08 = $2.15!
09/09 = $3.70
11/09 = $3.10
12/09 = $3.50
02/10 =$3.50
And most recent at $ 2.90?! We know this guy sides with Irwin so his guidance is really laughable at this point.
I would love for news to come Tuesday. Get the SP on an up direction with sustained momentum, with additional news releases.
If no deep drill news, they could at least (sarcasm) report on the mystery deal with "TSR Resources, Inc." option anounced in the latest JV updates they have given us. Garden Island Property, amended deal from July 10/08. We should know the expenditures on this!
Or what happened with Passport Metals JV from '08 where we had an agreement for $1.5M??
I don't think transparency thing is working, WES!
Just some things to think about over the extended weekend. Happy Victoria Day!
mynot