I must admit to some confusion given the market reaction to this nice little Chinese 'scalp' deal by Turbott and his crew.
With no discernible downside and considerable upside from this announcement, the market has chosen to continue to sell the stock down.
I can only speculate the following:
- that sellers believe that APG is straying from its main brief of EARS / ERMS / Metallisation processing, and are thus punishing the stock for its foray into China Gold (which is silly given APG's long-standing expertise as a company full of experienced 'rock-kickers');
- that sellers have not comprehended the simple logic of diversifying the business risks inherent in running a microcap looking for a large commercial success; or
- that a seller (or a group of determined sellers) are keeping the price down for their own reasons. The pattern of selling in recent days lends itself to support this view, particularly as APG's recent form has been nothing short of stellar.
I invite comment from the APG faithful....
APG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
