Interesting watching DOM trade today, wasn't much volume on the sell side all day yet someone was feeding the market 1.3million shares @ average price of $1.50, very frustrating to watch.
Historically 1.3milion shares would see DOM move 20%+ for the day, yet the price was stuck at the $1.50 5% to 6% range all day.
On this announcement I feel that DOM's management is now taking a proactive view on selling DOM to the market. The Annual Report was a great read, Challenger is looking really positive for a huge resource upgrade, exploration activity is extremely positive, gold production will exceed 100K ounces by at least 20% this financial year with costs closer to $300, not to mention a strong management team.
I'm making an early call to say that Challenger will contain at least 500K ounces in the next resource upgrade, outstanding grades and the possibility of another M1 style shoot not to mention M2 & M3 sky's the limit and don't DOM know it.
Now wouldn't that be something for the share price.
Go DOM.
ps:Why would Lihir Gold purchase Ballarat for $350m, when you have such an outstanding producer/explorer with rich assets like Dominion. You’d have to question Lihir management’s judgement?
DOM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
