Reading through the quarterly report and how the stock price has evolved in the last month or so sInce it broke the support at $3.20 levels it's no surprise. In hindsIght it seems all the big sellers knew somethIng.
GXY Board has absolutely and miserably failed to keep its investors informed. They have failed to protect their investors. There were access issues, low volume of ore being mined, recoveries down and even the margins down big tIme. These were all materIal issues and they should have been disclosed to the market and yet they were not disclosed. I dont see even a single piece of positive news on operations in this quaterly announcement.
While I believed in the management that they will be doing the rIght thing they have not. Instead they have allowed Shorters and insIders mercilessly dump stock in the market at our expense. So many here believed stock was being shorted for no reason but now we know that it was for real reasons. They withheld material information on operations from the market while allowing insiders sell their stock and postIon themselves to cover for huge profits. GXY Board and the management just lost my vote of confidence in them.
Now looking to get out at first opportunity. I hope it arrives sooner rather than later.