Astute investors are coming into the gold developer scene in droves at the moment. Check out some of the buying action of late in gold developers.
Acorn , taurus , blackrock buying up amx. Acorn also buying up IAU. Van eck group buying up large in GRY just across the road in BF and IAU also. All clues as to the shift in sentiment thats around the corner . All very astute investors that do plenty of homework before buying anything. All have very deep pockets.
Sure ,there must be a seller(s) in mix for amx , but its most likely a group(s), where Amx no longer meets one of the parameters in their risk profile. They sell until they clear their position , regardless of price , and given the poor liquidity of amx trading , it has a huge effect on the sp.
But this has created a huge and obvious valuation divide. A divide that is now being filled by these resource investment firms.
We might not have a bottom in just yet , but geeeez , it can't be far off from here. Funds buying always a good sign that a bottom lays near. These are the guys that shape the market, not follow it.
AMX Price at posting:
69.5¢ Sentiment: Buy Disclosure: Held
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