Is selling 812,000 shares a "substantial" change? I don't think so and they did it over a few days at average price of 85 cents. Their selloff was not triggering the SP to drop by selling in small tranches. Why would they trigger a sell off just because of this holdings ann? Someting else is afoot ecpecially when gold price is up a bit.
I was a holder for 2 years and bought in at 24c sold at 78 8 months ago. Sorry to leave SAR but too expensive now, most of the upside is exhausted. IMO only a takeover will push SP past $1 or ramp up production significantly. The SP has been see sawing between 78 and 95 cents for months with little correlation to Gold. Its just been manipulated by Brokers and the fact that people like to play the gold game when they get scared of Greece! So maybe even the new developments in EU to bail out Greece caused the sell off as people seek out more risk?
I suspect Sprott made their profit and decided they need to take it for their clients and post it on the books.
Cheers DaveJ
SAR Price at posting:
77.9¢ Sentiment: Hold Disclosure: Not Held