These top shareholders bought the stock on the notion that the team were going to build a mid-tier diversified mining group. Goldsworthy was seen as an add-on moonshot opportunity. That is why they haven’t sold on so-so initial GW drill results.
If GW doesn’t come in, the basic investment thesis is still intact. The new director group have their reputations behind this and will find various ways to drive the business forward. The stock didn’t go down on particularly high volume so it indicates that smaller investors transfixed by GW were the sellers. That will dry up and some of the bigger stakeholders will come in to take advantage.
M4M Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
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