At the moment traders are coming into the stock happy to trade on the pips...
Small changes on the buy and sell is all they want at the moment...
The stock is liquid and has a lot of shareholders who got in under the current price,,...so happy to get in and out at small increases or decreases...
It's a long way from firming up gold resources to industry standards so a lot of speculation....is there gold at depth or does it continue....with high grades....will the gold price drop...etc...etc...
One thing is know that there is gold in the area...but how much...so sometimes shareholders are excited by posters or manipulated by a pump......
Then these shareholders become scared br the posters or the price being dumped quickly like today. And scared that nothing is announced cause it could be bad news....or the price could drop to under 1cent quickly?
To summarise ...the stock is a traders paradise at the moment...they are in the money and happy to buy and sell just for small change...but with high volume...
Until get some resource firmed up and some large companies on the books should continue....
Hope this is of help to you.
BGS Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
