Maybe an investor/fund with <5% holding has been sitting on the sidelines waiting for a low risk, high gain, large parcel of shares after first concentrate is produced and sold?
After mines go into production is generally when institutions build up their holdings.
This investor/fund maybe saw the presentation last week and then knocked on Lachlan's door saying " we have $xxxm to invest in HGO, you can have the money next week and fast track the expansion of your resources if you do a placement to us" While the BOD was procrastinating the afore mentioned investor/fund used their already sizable holding to heavily sell shares to lower their placement price and here we are.... Waiting until Monday for some actual facts.....
gltah
HGO Price at posting:
6.7¢ Sentiment: Buy Disclosure: Held
