What you are seeing and thinking off as bot trading is indeed bots, but not the price manipulation you are talking about. It appears that a large holder(s) is consistently selling down. When this occurs, computer programs are employed to conduct an orderly sell down, to prevent the price from crashing (algorithm is opposite to accumulator bots). Yes the bot is buying and selling, but mostly selling.
The real question is why are the major holders getting out? Only 6 months ago brokers had $5+ targets on DOM.
Given vague and worrying grade downgrade, and the need for technically complex underground drilling, DOM's challenger mine has to be now valued on base case of only reserves, e.g. worst case scenario of 400 kOz, which is not a lot.
I held for a while and sold at a loss, seeing the downtrend with which it is hard to compete. Having done the numbers, I see plenty of downside from here if drilling is not successful. Remember there is no guarantee that gold is economically mine-able below the fault level.
It was a very well run operation, so a bit of a shame. No one's fault, just gold may be running out.
Having said that, I will still be monitoring annos for drilling and other news in August.
All my opinions only. I am not a geologist or a financial adviser and generally have no clue.
DOM Price at posting:
$2.13 Sentiment: Sell Disclosure: Not Held
