Firstly, I won’t be endlessly engaging in this unproductive ping-pong today. Maybe another day but not today.
To answer your question, it tells me the market is waiting on the details of the deal. Which is what I’ve been suggesting you do rather than carry on about zero progress. Progress has been made and the specific details are coming and the company was extremely upfront about that.
In my opinion, when the details are revealed, investors and punters alike will be able to make an informed decision on the company’s pathway to positive cashflow. Until then, we let the company do what they need to do keeping in mind they’re governed by the mine owners, REG and other 3rd parties doing their bit.
There was approx 140M shares traded over a three day period from 23 May and while there was an intraday dip on 23rd, the closing price remained flat. That tells me there was a buyer(s) soaking the stock being dumped. There is no other conclusion. Without a news event, a few people unwound their positions and those with a reasonable outlook bought the stock. I watched that day and they sat off screen and mopped it up. I was lucky to also grab some at .009.
The other inference from that day is that there’s positive news around the corner. For sure that’s speculation but I’ve been doing this long enough to sniff out when people in the know are buying.
I really don’t get what’s so hard to understand about it. That’s my position. You have yours. I’m not trying to sway your opinion as you’re very clearly embedded in yours and that’s fine. Express yourself but just dial down the emotion and aggression because you won’t sway my opinion.
M4M Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
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