Looks like support coming in below 10c? Probably from brokers trying to hold it up so they don't look too bad as it slides into oblivion?
Forget the fundamentals here kiddies, something pretty spectacular is going to have to happen to rescue this stock! 'Bread crumb' drill results aren't going to impress a market that is started to understand the problems with this deposit.
IMO the deposit is tricky, lacks the size for a stand alone operation and simply isn't being explored with enough aggression to make the most of the current gold price (even if it worked). If the high gold price can't save Wiluna, what hope does this have?? That's why AXM sold it to these 'promoters'.
Big chunks of stock (>100,000 units) on the sell now - smart money cutting their losses? 3 to 1 sell to buy ratio and lots of resistance on the sell side. Like trying to hold back the ocean!
Sad! It seems management are 'in way over their heads' this time. This stock has NEVER traded above it issue price!
Investors, sorry, but wave bye, bye to your hard earned cash! Then may be call the Company and ask why?
Good luck to all.
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