The day started slow and low volume - around 250,000 - normal for a no news Friday. Then WHAM - selling down on volume - 2 million shares so far - and thru key levels.
If this is followed up next week by some announcement about Chinguetti, I would expect that ASIC investigate the issue of insider trading. We have seen sell downs prior to news before after all.
As I mentioned the other day - I heard a rumour of a rumour from a broker and asked anyone talking to Hardman to see if they will respond - Hardman responded to a HC member query stating that Ching production averaged 35,000 bpd in July. Is there something that they did not say?
If it looks like a duck, quacks like a duck, when eaten, tastes like a duck - then its a duck.
With respect to the comments on Hardman's lack of public profile - yes - I agree they should not respond to every demand for information and get on with their job - but this is predicated on their (1) giving good clear information up front when they do make annoucement (2) recognize that much of the negative sentiment that we are asking them to respond to is caused by the problems of #1.
Simon Potter should schedule a few lunches with John Doran. Al;ternatively, mabe ROC could make a scrip takeover for Hardman - their shareprice would justify it - which - listen up Hardman management - is why the share price IS important.
Maybe it would cheer up the market if Hardman were to trim the high cost management layers they aquired ahead of becoming a producer. You know - follow Mr Voelte's lead and promise cost cutting.
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