The 12 SHORT days of Christmas, page-107

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CaptainGrumpy

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02/09/16

07:52

Post #: 18875640
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Originally posted by MetalMad ↑

No, BLK still too small and illquid imo. Canaccord really do a good job of top ticking this thing. The consolidation and big breakout in Feb before Canaccord did that last raise is identical to the pattern and subsequent breakout over $1.00, followed by the recent 1.00 raise. Quite poorly handled if you ask me, they upgraded their PT to 1.20 two days prior to the CR ann, suckered in all the momo traders then announced the CR at 1.00. All CR buyers now 25% underwater, and now its has $25mill worth of overhang. The last Feb raise was underwater for the best part of 3 months. It wasn't until Hunter Hall took that large line off Orion on 21 June that it started to make headway again. I hold for LT fwiw, but regretting not slamming the bid after the CR ann. Remind me to run for the hills next time Canaccord upgrade it.

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Thanks Metal,

Yeah i took my 10 bags from 9-90c and ran. Missed the cream but couldn't work out the upside from that level with current prod profile. Overhang annoying but at least they're cashed up with a plan to add value. Once the expansion study annc'd, I intended to re-buy, but didn't expect an opportunity so quickly. Would've preferred to have Sept FOMC and a few months of prod in the rearview mirror, but took first nibble yesterday. 60-75c fairly safe buy zone for mine.

Last edited by CaptainGrumpy: 02/09/16
1 Upvote

0 Great analysis

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