My take on the recent SP run, was that cashed up traders saw an opportunity to pump the stock up and sell out for a profit.
The drilling results have been out for a while, so it wasnt that. Yes Gold had a good week, but it is going to take more than just Gold having a good week to turn things around for TAM.
Up until last week, there was very little volume and very little interest in the stock. This presents a great opportunity for someone to come in and pump the stock up.
They would have started buying at about 2c, averaging no more than 3c, then sold out at an average of around 4c.
I am expecting the share price to drop back down to at least 2.5c, if not further.
TAM Price at posting:
3.3¢ Sentiment: None Disclosure: Held
