I have been loving this price action. My take is some holders who are wanting as much of the SPP they can get are wanting this as low as possible to discourage take up of the offer.
Look at the closing auction and market depth of trades today and we got as high as $1.45 before out of nowhere a seller came in for around $1.41 and squashed any advance on SP.
Also the smart alec trying to put a big line of 23,913 shares at $1.42 for a $34k trade got taken out just prior to close. Then closing auction had a dipstick trying to push price down to $1.40 on a whopping volume of 2 shares, hoping just hoping no one would participate in the closing and then we would have finished down for the day. THANKFULLY someone actually put that shonky move to bed. This has been happening all last week when the market was open.
Smells like a setup for accumulation here pre announcements.
With $510 K traded today I wonder how much will be traded tomorrow?? Investors will be looking for the next big movers and WMX has all the ingredients to offer that in 2021.
I am hoping we get the following this month.
- A further drilling update (possible)
- The DFS released re stage 1 (should happen per previous announcements)
- The quarterly report (A given)
- Funding confirmation from Mercuria re circa $40mil + drawdown. (Possibility post DFS as I would imagine this would be a condition of drawdown).
Now with Milan buying on market well above the $1.43 SPP price pre EOY I think he is getting in before the SP runs and possibly concerned the SPP was going to be over-subscribed.
I picked up another $5k on market the other week. I will possibly take up the minimum with the SPP also, I can't take up the full $30k but I am well invested in this company atm.
i'm hoping this year is the year for WMX to make a significant re-rate. The other Goldie's and explorers have had some big wins in 2020 and now it's time WMX makes some big moves.
GWR has been pretty impressive of late and they had a SP chart similar to WMX and now they are up 400+ %
