Little response to a very good announcement. I guess this means some people had reason to take advantage of this and sell down. What reasons could there be? Why is the company silent on the recent government (Argentina) announcement that the company is going ahead with mine development and are to produce 300,000 oz pa.? Did the government let the cat out of the bag early to provide some good news for Argentina when they have some difficult political and financial problems to deal with? Is there any danger to the company in the current problems in Argentina (re their central bank)? Is there a capital raising underway to fund the mine development of US$300 m mentioned by the government announcement? Could someone be trying to cap the price before moving to a takeover as this company looks like very rich pickings indeed.?
Can anyone help with any of these? The company seems to be failing in its duty of disclosure and should at least acknowledge the government announcement, and provide an assessment on how the government's problems might impact on the company.
AND Price at posting:
$2.62 Sentiment: None Disclosure: Held
