With the dump, it’s a bit of wash and rinse to destroy the chart. Spike should get an Oscar but his post was probably off a cue card. Those who want to accumulate cheaply and already hold large amounts of stock will often do this. Bigger players usually in the know are able to control sp movements quite well. Management and co have been woeful here but it’s the spec end so get used to it. This was a mainly offscreen dump into a waiting large buy. I will call it an orchestrated move because I haven’t seen any big sell lines yet hanging in the breeze. If someone wants to put a large sell line down near the teens later it would be appreciated, offscreen rinse is just that. I track live market depth on upto 30 stocks in real time and keep a copy for later analysis as end of day charting gives a false positives on tech analysis. I will put it out there I want this stock to go down as I would like to double or triple up my position as it’s just for dividends later on. This will be a top class yield stock all things going well in the future for many years. On the subject of our market cap currently do a rough guesstimate of what just the tailings retreatment maybe worth should metallurgical factors be favorable.
Anyway do as you do and never listen to anyone’s advice on HC as too many agendas and insider plants.
It’s not a traders stock nor is it in my trading portfolio. I don’t generally comment on trading stocks much unless I am telegraphing something is really coiled and it’s money for all.
Someone asked why I never comment on the Wits hot stocks. It’s quite simple that the low spatial continuity in nugget ores make it exceedingly difficult through geo statistical modeling techniques to delineate an accurate resource. So apart from this headache you will have to try to extrapolate along a contact that in all likelihood is discontinuous in its mineralization. Percentage error becomes enormous. That and the issues of dilution in mining, blah blah blah but you get my drift. All that aside I trade them manically but not as much now the easy money has been made. If they are attached to much simpler traditional deposit styles things will change. Just if ya get caught in fomo land remember that not even the best in the world have any idea how to value most plays there yet.
I wasn’t going to comment here as I hope the price falls but see how we go. I am sure @1982 read my other post before and he knows that I have shareholders interests at heart but not prepared to guild the Lilly on a few directors that have taken the mickey while wgx did the heavy lifting at Cannon. Changed my sentiment to hold but I hope it retraces.
My HC posts will be much more infrequent in the future across the board but please understand that I stand for shareholders and should I need to say something you know I try to tell it how it is.
It would be pretty easy to just do what others have done and pump the 500 plus dodgy micro cap dogs and make a quick buck but it’s not why I am here.
Make your own decisions please.
GL
SAU Price at posting:
26.0¢ Sentiment: Hold Disclosure: Held
(20min delay)