Guys, the reason for the seller yesterday was due to the announcement on Friday evening from Intrepid IAU. They have invested $100m into a huge project they own with a local interest. IAU own 80%, and suddenly on Friday all their staff were ordered off the site. That night the stock fell on the Canadian Bourse some 35% (from memory)...then on open yesterday on the ASX they lost over 50%. Down from over $2.50 to 24 c in the last 12 months.
IAU was shrugging their shoulders over the weekend and could not explain why they were kicked out of their own project...and the finger was being pointed at Indonesia using some muscle to nationalise some foreign projects...bad blood between Aus/INDO...blah blah blah.
So it was obvious that some were going to take risk off the table yesterday....and someone did.
I bet Gus is there to shore up support IMO.
Kiril.
I hold
Guys, the reason for the seller yesterday was due to the...
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