I was happy to see TRY, SBM, RSG all up about the same today which means TRY is now starting to be seen in this league (I only hold TRY).
What I find really interesting is that for such a tight register there has been selling volume for months and months now. I have also noticed that the offered volume is always sitting just above the bid volume but never substantially so. When the bid volume dried up over the last few weeks so did the offer volume, but miraculously 600,000 shares were available today, when a mug like me could see that goldies were the only thing to hold.
A few months ago I thought we would see a new substantial shareholder notice and I still think that is quite possible. But I now reckon that the former CEO is selling down, the holding is in the name of Warrigal Pty Ltd from memory. At one stage he owned 12% of the stock I think, but at last count he was down below 8%. I reckon he is selling down and that will keep pressure on the price for some time.
The other big picture factor is that globally gold stocks have done abysmally over the last 4 years despite the rising gold price and one wonders when that will turn around. It can't go on for ever, the goldies are making too much money.
Still loaded to the gunnells with TRY and looking forward to another dividend announcement in 6 or 8 weeks.
TRY Price at posting:
$4.20 Sentiment: Hold Disclosure: Held
