Volume profile has increased exponentially since the end of March following the $6m placement @ 3.8 cents on 25 March.
Today, thus far, is the second biggest volume day since 9 April - when 13M traded on no specific news - following the placement - Argonaut? Interestingly the SP range barely moved for such high volume, 4.3 - 4.7 cents
Next biggest was 12M on 2 May, again no news. Again, barely moved SP range 4.5 - 5.0 cents presaged a move to 7 cents. Confirmed on 13 May when announced more high-grade intercepts at Ricciardo.
Then 9M traded on 17 July the day of the TH for the M1 high grade ann on 19 July. Signaled the current top, SP range 7.0 - 8.3 cents, presaged a drop back to 5.5 cents via the $4M placement @ 5.7 cents.
Now we have 12.8M, with 2 hours to go....nearly back at yesterday's close @ 6.9 cents
So it's a liquidity event for some(one).
Traders taking the antimony sugar hit profit? Argonaut finally exiting? And who's buying?
Interesting times.
WA8 Price at posting:
7.0¢ Sentiment: Hold Disclosure: Held
