Efficient market hypothesis my back side. Its shares like DRA,...

Efficient market hypothesis my back side. Its shares like DRA, which prove that EMH is a complete joke. Either someone knows something we all don't or someone is messing with us and selling down to buy back later.

Personally I think management may be waiting until Eurogold have their stake up to 19.9%, then they will commence the share buyback. This will help them creep up the share register without the creeping provisions restrictions of 3% per annum.

IMO I will probably buy more once we get the notice that Eurogold have hit 19.9%. Intuitively it would seem that this would be a signal that there will be less buyers in the market, but I believe that this will be the point were DRA management step in to become the buyer.

To get Eurogold to 19.9%, they only need approximately 779,000 more shares on top of their holdings as at 27/1/11.

This is all just a theory of mine and only time will tell if I?m right or not.