Been trading these for a while. The algorithm trades have only been happening in the last 12 months. Many trades of 1 share and small amounts appear to manipulate the price.
If you look under order detail for GBG in Quotes and depth smallest order is 2000 shares with the majority being above 5000. Yet all day long there are small sales of 1,7,8 multiple times.
Now we have recently seen nxxt and cxxt. These are trades between institutions and other exchanges. Getting very complicated.
On the bright side they should be ramping up to 10mta within six months. This should start to generate some good cash flow.
Vale CEO has suggested iron ore is in for a price rise also within the next six months.
Lets hope things look up shortly. Can go from Prado to Landcruiser Sahara.
Cheers Gmac
GBG Price at posting:
43.0¢ Sentiment: None Disclosure: Held
