Share your frustration and agree mingchop. Every time it looks as if we may finally get a small share price rise another big seller appears. Had a chat to my broker this morning and was told Argonaut are the latest seller dumping have sold over 300k in the last 3 days. I’ve noticed there Has been Continuous reloading of selling at 17c has appeared and another seller popped up at 17.5c yesterday stalking the sell side. Valmec website shows Argonuat are the companies main research broker and have had a buy recommendation since August 2018 according to the valmec website. Their most recent buy recommendation valuation was Only 3 months ago in July with a valuation of 35c. Was also told in the last 21 months they have supported their recommendations by buying a grand total of 35,636 shares only. Seems bizarre to me . Recent directors buying has again been a positive signal however it does seem a losing battle against the relentless selling which feels like it hasn’t disappeared since Feb. Its a shame the board and directors or the research brokers haven’t been able to convince any new big shareholders of their confidence to take a position and clear out the selling.
VMX Price at posting:
16.5¢ Sentiment: None Disclosure: Held
