I can’t tell you. All I can say is that a large dump happened yesterday, and people continued to buy at .6 today.
I would have been more concerned if there wasn’t continued support there, if it started to get sold down into the .5’s, I would have started thinking oooof *leak*?? Wtf is going on here?
We are waiting on imminent news. SP has been stagnant for quite some time. If I’d held a large parcel since .2 or .3, I’d possibly consider taking my nice 300% and skipping off too. It’s money in the bank, so to speak, and with that big .6 buy wall there, it was an easy offload.
If news came and it wasn’t great, that buy wall would have vanished like magic. Perhaps just a matter of making hay while the sun shines? Idk.
I’ve watched more than one gold junior tank like mad on releasing results, even if they’re solidly decent. Market expects nuggets and visible gold in every damn hole, it seems.
I’m punting on news being decent, plus the fact these guys have the mullock, a plant, a bit of cash, and other things in pipeline to rely on to take them forward.
But if news is average, this could see another dump. It won’t matter long term, I don’t think, but it could be a reason for some larger holders exiting now.
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