ASX is on notice about manipulation of Kingsgate share price, page-560

It took a long time after the capital raise, but the share price finally looked like it was going to go above the cap raise price of $1.50 back in November. It was capped then at around $1.47. The share price tried again to break through $1.47 at the end of January and has now been having another attempt. The price cappers seem to be trying very hard to stop it going beyond $1.47. From a TA viewpoint, a break above $1.47 would make it a buy.

The instos behind the manipulation are keen to pick up more shares in a company where there is high representation of retail holders who are not keen to sell. So they are faced with having to sell shares around the current level (the capping) to knock the price back down, in the hope of buying them back plus more at lower prices (around the $1.20 mark). The price is taken steadily lower through those bloody bots that are programmed to bring the price down on small sales. So we are just stuck in this range until they decide to let the brakes off and/or until others jump into the stock out of FOMO. I think eventually with the rising POG and silver combined with the fact that Plant 1 will soon be operational and we will be mining those higher grades, we will break free of the present resistance and enjoy a nice ride. It's good that Jamie is out there attending these various conferences to spread the word to potential newcomers.


We are the owners of a really great asset which is being capably managed despite the naysayers. It's so exciting that we are ramping up towards full production just as the gold and silver prices are going insane. It's funny how we are all so aware of the rising demand for gold in places like China and India, but how this has been given so little coverage in the mainstream press. CNN though today ran a great article on the latest goldrush. https://edition.cnn.com/2024/04/09/economy/gold-prices-record-highs/index.html

I was intrigued to read that Costco began selling gold bars online in August last year and silver coins this January, and that they are now selling as much as $200 million in gold and silver each month. And that's just Costco!