You have to wonder at the motives of the charley who places such a large sell order at 10.5 cents only to withdraw it at various times in the trading day. You could assume he/she/it is trying to spook out sellers to meet orders he/she/it has on the buy side. Now if RW puts out a another upbeat statement on the next batch of assay results and can bring himself to acknowledge BoD is developing into a commercial proposition some one might take charley out as the share price surges upward. That would leave him with egg on his/her/its face, no?
One reason I suppose the share price is not matching that of Breaker Resources is RW's unwillingness at this stage to claim a significant new gold project is in the making. He continues to talk about grades. To turn grades into ounces is likely to require another extensive drilling campaign, RW says some 10,000 more metres. And that we understand is in the planning stage.
As a layman those grades already announced look decidedly impressive but what do I know. RW believes they are "fantastic" and getting better with each assay result. But thus far the market shows little interest. If the good grades continue and the widths stack up - and the POG recovers- there seems to me a good chance RW will bring in a very nice deposit.
Be very interesting to see how RW characterises the next assay results.
MGV Price at posting:
9.5¢ Sentiment: Buy Disclosure: Held
