I doubt the insto's would care much TBH, they're in it for the long run not the week-to-week movement. The price is dropping on less volume than the rises in Feb-Mar, just look at the OBV, it's still sitting up around 35-40M positive. Also note the size of the parcels being sold - they are almost all less than 1M shares, i.e. less than ~$40-50k, which to me says it's most likely SMSFs or mom and pop traders, taking profits from Feb positions, or getting spooked by the day-to-day and exiting at a loss.
I've held this company for many years, recently took profits at 0.06 and then got back in at the start of this week at just over 0.05 (should have waited until today, but hindsight is 20-20). In that time it's been in the 0.02s and the mid teens, all on a worse company position than what they are currently. I believe the SP deserves an upward re-rate based on the recent acquisition of Lorena, despite what some others say on this forum, but that's not going to happen with paltry and pointless drill results from prospects that aren't even on their fast track plan. Yes Tombola has issues, but it also has potential, and the SP will move when they start to properly realise that potential by demonstrating progress in revenue. I certainly don't have the same confidence in Tombola as I do in other explorers, which is why they make up just 7-8% of my total investment in the ASX, but they're not dead in the water like some other ASX companies (I'm looking at you 88E and BPH).
Be patient, DYOR, and GL
TBA Price at posting:
3.6¢ Sentiment: Hold Disclosure: Held
