IGR --down another 2% ...but
Having a look at a few WA gold stocks I rate highly today , looks like negative sentiment abounds : eg
# RRL --look at the corporate Pres today , and down 4%
# NST -- outstanding announcement , and finishes 1c up
# SLR --down 4.5%
# SAR --down 4%
# SBM --down 3%
# RMS ( in my sinbin list )--down 6%
and NCM --another 2%.
Quality gold overseas stocks didn't fair much better , being TRY ( down 3% ), PRU ( down 3.5%) ,AMX ( down 4%) .
Volume in IGR relatively stable in comparative terms ,so the "Shorts and accumulators" still having a Teddy Bears Picnic !!!
Corporate regulators can't /won't touch this , and the only thing ( and best thing ) that Chris Cairns can do , is bring it to the attention of the ASX and the ASIC( thats a complement BTW , not a cynical remark ).
IMO --we are going thru those "growing pain" times , where we are not underground ( yet ) , we haven't clinched the discovery at Majestic/Imperial( yet ) , we haven't had really significant follow up drilling results at Randalls or Aldiss ( yet ) ....and the market takes no notice of an operation at Salt Creek that is humming along , and being tweaked more FOR THE BENEFIT OF SHAREHOLDERS .
Corporates will "play " the retailers here for all they are worth , and arbitrage the rebound when it happens ...thats a fact of life with 800 m + shares >>
But when it turns...and it will ...the substantial holder REGISTER will have changed , and a run up in price will likely be the offest result of recent days .
JMHO ..
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