The situation raises a lot of questions. If they possess insider info regarding MRR's future, I don't think a $93k buy is going to do the job I think, let alone the smaller buys the other directors chipped in. It doesn't look to me as though anyone is loading up the truck for lack of a better phrase. The only sharp shift in daily volume we have seen in a while is a big buy to end last week, with just over 3 million shares bought on market within 30 minutes. The only thing that can possibly save this stock now s for George to either pick up a nice parcel of land and do some cheap drilling that comes up with some decent results, or he needs to go out and buy an established resource we can proof up and put our name on something.
There is no point going out to drill now when the price of drilling has not come down as much in relation to the spot price of spodumene and lithium. Why would we be looking to build a house, when house prices are falling in a sense? We need something concrete, something we can put our names and our hands on.
The biggest problem we face is that it takes several months for the logistics of these deals to be finalised, and by the time all the back and forth is down with is 3 months down the track, and no one can predict the market for lithium in the short term.
One thing does look a lot clearer, and that is the fact that the results of the drilling were leaked to someone. The constant selling of large portions of shares looked like calculated selling and it matches the charts to a "t". We are talking big parcels being dropped from all the way from 4.5c to about 3.c before the camels back finally broke after 3c. If there is one thing George and the team can't cheat, it's the charts. The charts simply don't lie, these results were in the system for a long period of time, giving insiders valuable time to offload without questions being raised.
These are just things that you have to deal with and have conviction in your decision-making, as many of us here did, we held our stock in the hope that the market was wrong about the constant selling of shares. As for the cap raise investors at 6.2c at least they can hold onto their options at 10c.
Many people are caught holding stock with an average price of higher than 4c, good luck offloading that, you have no choice now but to trust your conviction and average down or sell at a loss, there is no point putting your faith in LADY LUCK as you have just previously mentioned, she doesn't help anyone, not even George.
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