While unfortunate (very) action by militants on Burundi - Congo border has been inconsequential in terms of Anvil's projects in Congo.
Does seem to bring on some selling and price weakness - as always.
Institution moving imposing large sell order to 36.5 cents now.
Reminds me of Bluff Poker!
Especially their effort last week in imposing two 200,000 sell bids on a market not ready to take up the offer.
However does serve the purpose of holding share price down - now reducing price.
This imposition is likely to continue until Gecamine announcement and subsequent fundraising is announced.
For reasons obvious and stated previously.
The beginning of Stage 2 ramp up might normally see a surge of buying and price lift.
As would the Gecamine take over announcement.
However institutions are in the business of making profits.
Forcing allocation share price down is not difficult.
The way market is being managed any allocation will be well under 35 cents. Perhaps closer to 20 cents.
So what's new?
Then again a rights issue might be on?
Hopefully.
Stage 2 completion - pre ramp up - will be announced soon.
This week?
However remember the equipment is second hand and shifted from overseas.
Teething problems can be expected.
Many such!
Still one might hope that announcement of Stage 2 ramp up ----
Indeed Gecamine Anvil/Congo Government agreement --
should both be positive for share price.
Certainly will in the long run.
Nothing guaranteed in the short term.
Congratulations to those buying now.
For obvious reasons.
Cheers,
NT
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