If you're hoping good drill results will make the price go up this week I hope you're not disappointed if it doesn't happen. We've had plenty of good news and gold price has gone up big time in the past 6 months, but nothing happened. Why? Manipulation?
I reckon there is still a glut of shares from the CR. I got curious why so many are selling under the CR price so I looked back at the chart and there was a huge volume (l40M shares) traded in 2 days from 6.7c to 11c (17/18th November last year). Either the CR people are taking a loss, or it could be those people getting frustrated after waiting 9 months and the share price is languishing and drifting back down to or below their purchase price.
I think there will be strong resistance at 10.5c and then at 13.5c. Just my opionions.
MYG Price at posting:
9.0¢ Sentiment: LT Buy Disclosure: Held
