I have looked at the intraday history of the SP of the last 7 trading days.
We are talking of roughly 500 trades (5 minutes interval) with 33.5m shares trades.
100 trades with a volume larger then 100k.
Interesting enough the 2 day before dividend announcement 1/3 of this volume has been traded.
It seems that a lot of small tickets were traded at SP between 50-55 cents. Then between 55-59 cents some larger tickets came in.
My conclusion: It seems that some people new already before 23. August that good news are in the pipeline. It seems that quite a lot of investors have used the uptrend between 50-55 cents to reduce or sell their holdings. Between 55-59 cents then some larger investors (Instos or larger retail) have grabbed some larger tickets. Here my feeling is rather that they were not holding AMI before and have started to accumulate.
It seems to me that today those that have bought relatively cheaply around 50 cents have used the larger buy tickets to take the profit.
The sell side does not look very massive in my view.
I would also not be surprised if somebody is trying to keep SP at a reasonable level to accumulate.
I still believe that further good news are in the pipeline. This is just a gut feeling and partially also based on observind respectively trying to observe some price pattern and also the chart.
So I am still pretty relaxed and I have a good feeling with regard to AMI. I have also full respect for those that do not share my view. I think at the end the fundamentals and the hard facts will show who is right or not. At the moment I have to admit that a few puzzle pieces are missing to make this a great and almost sure opportunity. Personally I would like to see some progress with regard to LOM.
And....if everything would be so crystall clear obviously we would not trade at 54 cents but more probably at 1.54.
By the way: I do not change my sentiment to buy because everybody should do his own research and buy, sell or hold based on that. I think that in the current environment medium sized gold prodcucers that are generating so much cash and have a lot of cash in the bank are in a good position to be the winners in 2 years time. Pure explorers are just a bet and then there are stories like EAR out there (or similar) that might be worth looking at.
Besides that management is key. Something where also AMI could improve. In some cases even if the story is excellent management is just looking after their own interest. I think therefore that the name of the new CEO will have also a very important and decisive impact on the medium term future of this company here.
PS: Try to buy 500'000 tomorrow without pushing the SP. I think that who ever is buying larger tickets has done his DD.
(20min delay)