constant algo

Thought I would share something I have seen with PIR.

For over a year there has been an algo/s constantly playing the bids and offers, however this has increased dramatically over the last few months. If you have a look at the bid and offers now, you will see the true market depth or the real buyers and sellers. Come Monday, the algo will be back and usually plays 10c-15c each side of the last traded price. Some numbers from this week are 500, 600, and 2500 from memory, but if you watch during the week you will see the numbers and they do change from time to time.

I am not sure if they are accumulating or playing the spread as the true market depth (if you look at it now) offers opportunity to make a few cents off the bids and offers (do that many times daily and you make good money, so why not exploit it). Going with the substantial notices being received, you can see the increase in holdings, which tells me maybe the algo is accumulating while at the same time making a bit of money on the side. I guess there are postives and negatives with this as by having an algo the SP drop ain't too bad, but it also caps on the rise. I was close to pulling the gun to buy more at ~45c, but it did not get there (it might of if not for the algo)... oh well, I'm happy with my holdings for now, and not to say it won't get there in the future if markets and gold play up.

It has just annoyed me a little bit lately, but if this algo/s is accumulating and capping the price rise, then we should take it as a vote of confidence. If we just stick with our guns and hold, then this puppy will rocket or get a T/O of some sought in due time.

I have always had a price of $3-$4 on PIR and don't see why this can't be achieved especially if you compare to PRU, TRY, MML, etc and how many oz's they produce a year and the total costs they have, so am more than happy if PIR take this to production.

More and more noise is being made about PIR and thegooch has given us some of this noise the past couple weeks.

GL to all