Thanks for the comment trombone. I agree the announcement of the md stepping down may have something to do with the sp drop during this period. But he’s my take on it from the perspective of the $1.38 sp on the opening of 12/11/12:
1) There was no dramatic change in the gold price during the period 12/11/12 to 22/11/12 (-0.2%)
2) From the opening sp on 12/11/12 to the opening sp on the 15/11/12 (the day the md stepped down, but before it was announced) the sp dropped 9%. The only punters who would have seen the Wilsons presentation were the instos that went to the conference.
3) The immediate effect on the announcement on the 15/11/12 about the md stepping down was for another 8% price drop on the sp (assuming the instos didn’t know he was leaving).
4) When the rest of us dumb mugs got to see the asx report of the Wilsons presentation the sp dropped another 11% by close (or 15% if you take the intraday low)
I’m not usually into conspiracy theories but I cannot be thinking the stepping down of the md was forced by either the board or the one or more of the instos or both. And look where it has landed us… A sp of $0.62 and a mine on hold. We’ve lost over 50% in the past six months and only 8% in the previous six!
I have pissed 100k into the wind by averaging down since the Co new adventure in Nov 2012, but it is only money in the end Brass man I'm mean trombone, xxxx
RED Price at posting:
62.0¢ Sentiment: None Disclosure: Held
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