whats next, page-18

Mind you, if selling seems to be at a relatively low volume then the SP doesn't tell the full story:
1. Small accumulators are snapping up whatever they can at the bargain price.

2. The relatively small number of issued shares in BLK, which still resembles the number of shares on issue you'd expect for an explorer rather than a producer, mean that BLK shareholders are more than likely to see a sudden SP re-rating when new investors try to jump on board into a gold-producer with the figures already budgeted and hedged. IMO, the lateral flat rightward shift of the SP at this level will eventually rebound and intersect again with the underlying sentiment trend line of previous BLK peaks. The long LOM and the huge reserves and prospects ( with the best technologies that BLK management have access to) from so many separate gold field systems is a good reason for the strong underlying sentiment. The BLK story is still not well known to those who are not on Hotcopper.

3. The tightness of the top 20 of the BLK shareholders who control 60% (now mostly institutional or long term shareholders supportive of the current management) And the fact proven that management themselves are totally focused on adding shareholder value rather doing anything selfish) means there might well need to be a very big SP premium to be paid if any giant started stalking BLK.
4. The CEO previously said dividends are their aim - and ASAP.
5. Apart from the value added in the BLK drilling and mining programs , the directors have avoided big management costs or any dilution of the shareholders. The CR x2 will not hurt any shareholders who maintain a medium- or longer-term view. A few over-committed short term traders got burnt, buzzing and whingeing like a bunch of fire flies.