@LT_Investor
It looks like this sell off is taking a toll upon you.
The market will do what it does.
You, me or anyone can't force the market to rain.
My take is......
BDR has done very badly so far.....the large holders are angry & frustrated.
However they have shown support for perhaps one last time.
Small holders are scared to death.
Small holders are getting out taking it one last chance to sell.....take a loss and forget about it.
As they say live to fight another day.
The short sellers have used this opportunity to cover their position and still covering.
MONDAY was a 25 million+ day with only 1.1 million short sold.
TUESDAY was 12.5 million+ day with only .985 million short sold.
Today so far 10 million+...its only 2 hours.
There will be more TAX loss selling. It will be very hard to hold unto this dog.
Not many will be able to do it.
If someone is able to hold unto, there is still uncertainty whether all the plant upgrade works out.
It is basically a risky gamble right now. Not many will be prepared to take it. I understand that.
But if it does works out......which will not happen overnight but will take good two years(we will know in 2-3 quarters whether the plant upgrade is working or not).....it could be a life changing gains.
84 million market cap today. This time the scrooge managements are willing to participate in the CR.That tells something.
"Certain members of Beadell’s management team and Board will be participating in the equity portion of the financing, subject to appropriate approvals."
I am not happy either so far.
I will be extremely worried if Craig Redhead resigns for some reason, that will be my sell signal.
Another speculative theory I have in my mind is....
The price has been pushed lower to get all the retail holders, speculators, day traders short & long term out of the game. Once they are out......the merger deal goes ahead...with most of the shares in the hand of large long term investors. After a 14.25:1 consolidation there will be roughly 115-120 million shares outstanding. By that time the results of the plant upgrade will be more or less visible. If the results are as good as expected........the share price will climb up in a hurry. Strange things happen in the markets.
E.g .....Novo Resources & Artemis Resources & BITCOIN or all Crypto Currencies.
So how low the price can go ......nobody knows.
How high the price can go.....nobody knows.
All of them above are my wild speculation.
