This stock at one time was very frustrating, was keep on dropping and there were no announcements regarding any developments, I even had to contact them over the phone to check the progress. Now it is more or less de risked and you clearly notice some pattern there will be a buy at 2.0 and a sell at 2.1 then the sell moves to 2.2 and by moves to 2.1 or it happens the other way around as well. I don't care what games they are playing I take the opportunity to top up during there games. that's how I managed to accumulate a decent amount when the top 20 hold 84%. Strangely at the recent AGM the board had a strike on the remuneration. Only managed to get 73% of the votes. Top holders might be having internal conflicts and one of them could be selling or reducing his or her position or transferring it to another top holder.
Thank you for your commentary on this stock, due to the the fact this is tightly held this forum does not get many contributions unless there is a price sensitive announcement.
NGY Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
