acehigh you're correct that I thought that .006c was a great buy, I also thought that .005c was an even better buy (that's why I bought at both prices) & I reckon SK blitzed it when he picked up at .004c. So far I agree with your post. Where I differ, I think, is that unlike you I don't think that the 'big share holders' have gotten rid of large parcels at these prices. Well they have kind off, but I suspect it's to themselves. Previous posts by me & others have highlighted how huge transactions take place that are not in the system. It has to be just a shuffle from one related entity to another possibly for tax purposes? Bids & offers don't reflect the trades that occurs. Additionally, no forms have been submitted that indicate a change in position by any holder. I know there is an old trick of selling to crystalize a loss in a financial year & buying back in the next such that these days the ATO is vigilant, to an extent, that a reasonable period of time needs elapse between the realization of a 'loss' & the subsequent realization of a 'profit' that might cancel each other out for tax purposes.
Not trying to get too conspiratorial here but just musing on the possible reasons for out of character transactions recently. Just as you say that the flood gates will open for sellers, for every seller there has to be a buyer & if this stock was to suddenly start to move big time, there would be droves of day traders/investors etc that would pile into it. Remember also that the top handful of holders own the vast majority of the company & that company management is very much aligned with ownership so plenty of incentive there.
I think the mud phase has passed in Qld & with drilling taking place in both Tasmania & Qld I'd expect analysis of samples to come though pretty soon. We have quite an attractive proposition in Kamarga both with zinc & the 'bonus' copper. From memory the extent of the copper find was not previously determined (pre wet season) so I'd expect a more definitive picture of the resource this drilling season.
RMG Price at posting:
0.5¢ Sentiment: ST Buy Disclosure: Held
