Patersons sold a huge amount of their shares for profit. In that time it encouraged a sell off by retail and a few other stragglers. In the last few days the stagnant SP has encouraged more retailers to put their shares on sale in the queue. Now Patersons are buying up everything again like they did in April, May, June and July.
It’s so obvious. That’s all it is. It’s got nothing to do with people no longer appreciating the grades or not expecting much more. There’s a shit load of gold and Patersons (or whoever they represent) want all of it!
MGV Price at posting:
62.0¢ Sentiment: Buy Disclosure: Held