For anyone wondering why this stock hasn't rallied in line with gold peers over the past year or so look no further than this data from 1 June 2019. The same theme (retail buying, instos selling) can be seen at any time interval, I've just used 1 June 2019 as the example as I think that's around the time of the merger.
The question is how much do Shaws and Pershing have left and can a solid Insto do a deal to expunge any remaining overhang? Surely it’s a matter of communication and capacity.
I think BDC is cheap on just about all metrics and I'm looking for an entry but until that trend changes it's hard to jump in front of it. Whichever client/s from Shaws are selling need to be cleared (they are still selling as of recent data). I'm surprised at how much stock they have, considering most of the sub/significant holders I can see on the register should be sticky holders. It must be a culmination of smaller (but still significant) clients.
I imagine this most recent raise has probably just muddied the waters even further, and that is evidenced by the action today versus almost all other peers that have raised money in the gold space over the past few months. Look at OBM and MZZ as examples over just the past few days.
I can't wait for the overhang to be cleared, as I really think there are some fairly explosive gains to be made, in my opinion its just a question of timing and opportunity cost.
