Holders will sell into any increase to buy back and make a stag profit. ie sell 1m shares at 3.2c and buy back at 3c provides a quick $2k profit. The downside is that you could buy an extra 1m and increase your holdings so when it run after cap raise is completed you make higher profits on more stock holdings however I guess not everyone is cashed up to simply buy additional shares.
That's my take on it any way. Still good buying for new investors in the low 3's knowing that it is artificially being held down. Again imo.
Ann: Aeromagnetic Survey Commenced at Niagara Gold Project, page-34
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