Re: Lacks logic
in response to
by
posted on
Jul 04, 2008 02:56PM
Also, FNC's float is very tightly held - a mining promotor named Pat Sheridan is one of the biggest shareholders - and IMHO, FNC's share price is a reflection of their being able to control the market at a much higher level than any of the other players in the area. I rarely take their SP as a true reflection of the area play. That being said, I wish we had that kind of control over our share price! I really do hope they hit something in their upcoming drill program - it will be good for all of us!
I suspect that GMP is Pinetree selling - I don't think there is anyone else that has that kind of position or who is very likely being faced with some pretty big margin calls as NOT has been under $3 for most of the week- or who would sell at this point of the game with drilling set to start on McFaulds West unless they had to.
Here is to some exciting weeks to come!
Shooter