Where have you been......nice to see you around.
You just disappeared after Brexit.
I am sure you did very well with your gold stocks investments last year.
TRY is caught in a vicious cycle.
There are no new buyers to push the share price up.( New buyers not convinced yet)
The ones who are holding are tired and fed-up. When they see, specially on a day like today other goldies have jumped 5-8% and TRY doesn't move or rather backwards, it's hard to justify keep holding.
Only the hard core believers and extremely high risk tolerance people are left holding the bag.
This will all change one day. TRY operations will improve, buyers will be back. People love to buy bargain.
There is no trading here, not much volume. So the day traders and momentum chasers are out of the game. There are funds who don't care what the company is doing, if the share price is going higher they keep buying & selling and on the other hand if the share price goes down, they keep selling & buying.
Anyway, it could take unto next two quarters to convince new buyers that TRY can produce 75-80K ounces a year on a sustainable basis.
Therefore maybe a good buy for high risk tolerance people now. Some people are happy to pay much higher prices for confirmation of turnaround operation.
All the best.
TRY Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
