re: News: Millennium Minerals hit shallow hig... I have just...

re: News: Millennium Minerals hit shallow hig... I have just bought into MOY this afternoon, having waited and waited for what I expected would be bailing out of stock by Patersons. On 29th September they were allocated 291m shares as the underwriters of the rights issue. They are unlikely to be a long term holder - they are stockbrokers. They will have had instos to take up some of it as sub-underwriters, but probably would have ended up with quite a lot themeslves. I suspect they have been selling ever since. The 6m that were sold in one go at 1.6c was possibly them. I don't know that - just an educated guess. This stock has limited upside until they have finished selling, but after that things look bright. I love that they have got their funding in place, are operating on budget, have intersected gold at shallow depths, and look very likely to become a profitable producer provided we don't get a collapse in the gold price.