It only moved by 0.1c, the smallest movement it can make. Penny stocks tend to move very quickly at this level (percentage wise). The volumes are miniscule - basically, everyone is busy elsewhere but when attention returns to IIG it could move to 1c in the course a few days and a few thousand dollars to basically where it was when volume was last traded.
News is expected on Lyndon Station toward the end of the year and Lionel Diggings after the wet.
Note that half the shares on issue are owned by the top twenty share holders, the director and chairman holding 25 million between them (6.28%).
Sit tight and wait. I have a feeling that some penny stocks will do quite well - a bit of psychology...when things are bad and people lose money on the market they are far more likely to gamble (scientific study done recently, the tested the likelihood of buying a lottery ticket). So when a Penny stock rises a little bit on good news, there is the chance that many people will try to jump on board for the ride. Thus a little good news could translate into a disproportionate rise in the stock price, at least in the short term.
If you can't sell, buy...
Robert
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