There is no explanation for it, simply more sellers than buyers.
Stock is sufferring from severe lack of interest. How else can you explain it hitting 12c back in Jan on Drill results then 7c today on a major milestone?????
The australian mentality is to sell for a loss if it doesnt go up immediately. No one has a clue when it comes to spec investing and therefore will never make a killing on a stock as they are happy to make there 5-10% profit or loss and then go and destroy another stock and so on. Yet they are happy to jump in on a flavour of the month sector with very little research or due diligence.
Hopefully a gold major or foreign insto recognizes the value in this stock and comes and buys a cornerstone holding. Otherwise this thing is never going to go anywhere.
Note to board.....Canadian Gold co's with similar resource size, trade at market caps of up to $50 million.....Why dont we shut up shop on the ASX and re-list on the TSX where we might actually be fairly valued?
Good luck to everyone in here, hopefully patience will be rewarded.
AXY Price at posting:
6.9¢ Sentiment: Buy Disclosure: Held
