Up till now all the SP behaviour is fairly well explainable by things other than pros making it happen.
IO price starts crashing, price crashes like all junior IO stocks do. Company announced Anglo negotatiation term extended, price crashes further. Then company announces it’s original DSO plan with Anglo is off the table and finally the price collapses into the 6’s.
Some bargain hunters come in here and IO price happens to jump up quite a bit over a couple days following this too, so the price jumps back up into the high 7’s, then it starts falling again as they take some profits.
A small increase again from there as the IO price recovers a little more, but the SP starts flailing again and looking like descending more on the back of subsequent IO price falls, till the director buys shares.
Then the following day an early morning tweet after no news for a while seems to prompt people into thinking the original mining plan may be back on, and that there’s some life in the company again, so combined with director purchasing, the price pumps up to where it is now.
Not ruling out pumps like you think or are trying to make happen, but none of the price action so far appears to be related to pros, basically just the macro environment and company comms.
MGU Price at posting:
9.3¢ Sentiment: None Disclosure: Held
