Serious market manipulation is occurring guys, but if we hold out selling it can work in our favour!
With the suspension of AXP for some 9 weeks compliments of our overzealous disciplinary school teacher disguising themselves as some form of a regulator, the ASX, the share has traded unimpeded to new heights in the US on the OTC under the ticker of AUNXF. These US comrades are suggesting prices in the order of 5cents or more US , let’s say 6.5-7 OZ.
Problem is that our market was shut down for an a ridiculously long period, and the Market Makers happily kept on selling to the punters stock that they didn’t own (ie.shorting us). Their short became in excess of a billion shares, and perhaps close to 1.5. Given that only there is only 4.8 billion shares on issue (prior to a recent option exercise) that is a large proportion of the company, almost a third. Also, many of AXP shares are tightly held by insiders. Shares reached a peak of 2.49 US or 3.3/3.4 cents Oz
Now on Friday night on the OTC, after release of the announcement indicating our resumption of trade, these Market Makers dumped 210 million shares on the OTC, a very large percentage considering how few shares are in reality on the OTC. (The Company Secretary told me when we were suspended he estimated only about 500 million were there, or about a tenth of the company). In this way they were able to force the OTC price down.
Why? To ensure that on resumption of trade here their arbitragers could buy up at a price well below their average sale when shorting. My estimate is their average is 2.4 cents OZ and Fridays close was 1.8 cents OZ.
At the point of writing 600M odd have changed hands today with a peak at the MMs manipulated price of 1.8. They would have bought a lot of these, but they have plenty of room to PAY MORE and will do so, they must, as they must square their books.
You can beat the MMs at their own game by not selling, and force them to pay a fair price, and so watch the price run skyward. With the insiders there really should not be too much of available stock if you stay calm. Maybe we could get 5cents . DYOR
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