cerro padilla e - 2 corehole, page-4

Very interesting trading. Following a strong morning with 375,000 bought at market (20 cents) and 120,000 (19.5), someone dumped 262,801 at market(?), selling half at 18.5 and the rest at 18 cents, pushing the price down to 18 cents from 19.5. I am still not sure why the seller(s) insist on the show of strength/stacking the sell side which inevitably pushes the price down and results in their shares not being sold, especially just on resistance? Either they're unsophisticated or trying to cap/drop the price... News on the oil and gas potential extending deeper in cerro padilla e-2 is welcome or more so on seismic and/or Spain company update. There were rumours amongst corp finance circles of interest in onshore European gas assets recently which could explain the aforementioned price action (plus Spain delays), but as always I would take that with a grain of salt. Agree Brabin, once any of those pieces of news come in this will recover fast, especially given the tight and supportive register. Second, according to a senior technical analysts a close at or above 19 c (preferably 19.5-10) keeps things intact from a technical perspective (since support is technically 19 c which was Nov resistance, and not 20 c). Additionally, an analyst contact has promised to review a holder statement within the week to understand whether the sophisticated investors are the net buyers or sellers, and whether my thesis that the share price is being intentionally capped or being sold by outsiders has any merit. Based on last two months reports I am told top 20 strengthened, therefore sophisticated investors were net buyers, a good sign.