My data backed assumption is that the sell down by T Rowe Price continues.
Using just the data from the two most recent substantial interest notices, it shows that T Rowe has sold down to take a very tidy profit and ROI (at least 45.28%) from their recent buying. I have used the average buy/sell price to reach these figures as we are not privy to the exact trading data, actual revenue and ROI may be higher.
Furthermore, the volume of their selling is flooding the market with shares, pushing price down and I assume that their sell-down did not stop the day after the substantial interest notice was announced. In January alone - the sold volume from T ROWE contributed to 18.68% of
all volume traded, putting substantial pressure on the SP.
Overall, the fundamentals of the company have not changed:
-
Producing gold and production ramp up continuing smoothly.
- MRE update expected within a month
- News of decision on second heap leach mine in scope.
- 120,000m being drilled
CHEAP this year.
Do not sweat the short term aberrations, the big picture is as robust as ever here, buy the weakness.
All my opinions - DYOR.
