Hi Midnight26 and all,
I know there is some talk about the US Van Eck group rebalancing putting a little downward pressure on some of the larger more well-known Gold shares such as RSG, NCM and NST and this could also be the reason for the current pressure on the Gold price. As well of course as the recent FED move; however, I believe this final V E re-balancing of the Gold stocks should be washed out shortly after the close of trade in New York tomorrow.
I guess it’s possible that this action could be reflecting a little on BBX today although I did notice some very suspicious trades go through today.
14 shares @ $0.265 = $3.71 150 shares @ $0.275 = $41.25
One wonders if this is not just one of the brokers playing about with the share price possibly trying to lower the price for a larger buy later on; if so I wish them luck with this company. One thing the last few days of trading has at least produced a little more liquidity in the stock.
Of course when I say liquidity I need to use the word sparingly as there is probably a lot less than 15% of these shares in the real free float these days.
I managed to get around my pension payment selling another dog stock I was unfortunately holding as you may know.
I would like to see the Gold price hold onto the US $1,250.00 level until this NY re-balancing act is completed and then I have a gut feeling we may see some decent action in the Gold price of course just my opinion.
“The decision by New York-based Van Eck to dramatically restructure its exchange-traded fund of junior gold stocks has had massive ramifications for the share prices of Australia’s gold producers over recent months, with savvy investors gleefully taking advantage of Van Eck’s shift in strategy and positioning themselves to profit from the change.”
http://www.theaustralian.com.au/bus...e/news-story/b4136ae909e58f0e0b0ac18ed9490c10
If the US $1,250.00 price holds over the weekend then it’s possible that some of us here will be able to claim to be part of that
savvy group of investors The Australian was talking about last week!
What this Paul Garvey of the Australian thinks of as a scandal may just prove to be an excellent opportunity (and to use his word again) for a few savvy Aussie BBX shareholders.
It’s been a very hectic few weeks and hopefully we may see a few more of those tantalizing assay results just ahead of the environmental permit and the up-coming drilling program.
Have a great weekend boys and good luck to all holders.
Cheers and very best regards: Andy
