price action, page-21

hard to say SARAGIAN...

I don't know about VRX but HOR traded b/ween a high of 21c and low of 13.5c in August 2011. Finished the month at 18.5

How does that fit into today's scenario where we were 33c at the start of April only to see a low today of 16.5c. IMO ever since Investmet got onboard we've steadily dropped backwards. Are there any conditions to this Share Placement offer? I'm guessing they'll still have to cough up the 27.5 cents.

At the end of the day, this is a pretty heavy dilution when 15M shares represents almost 1/3 of the existing scrip, not to mention the same amount of free options that came with. This represents a more than 50% dilution to existing shareholders.

The price was ranging b/ween high 20s and low 30s for a while between Dec 11 and Apr 12. A mere 6 weeks on from the 21 Feb announcement RE: Investmet. I'm not suggesting any foul play or corporate shenanigans as I believe our management to be quite solid. It's the dilution that's killing our SP IMO, and I feel it has a few cents to go yet unfortunately.

The only thing on our side in the short term is the strong possibility of some excellent drilling resutls to help bolster the SP. Of course the general market sentiment is dragging us down further which doesn't help. HOR is typically a tightly held share with very, very low volume traded on any given day. Like a volcano all of a sudden she'll explode (has happened twice already) and the SP will jump dramatically, keeping us in the game.

It'll be bumpy, but this little company will get up and running soon. Copper is a much needed commodity the world over especially with the requirements of China, India etc. who are modernising their ancient infrastructures in line with the rest of the developed world at a phenomenal rate. It's not an easy thing getting a mine up and running and will often take 5-7 years to achieve. HOR is in a good position to become cash positive sooner however with the Horseshoe Lights mine practically ready to go. This is what keeps me interested. Kumarina is the blue sky project which will determine how long I continue holding HOR shares.

For me the buy signal right now stands out like the hairy knackers on Fido!