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It’s not the selling in isolation that’s driven the price down...

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Mossberg

1,407 Posts.

249

11/01/19

14:12

Post #: 37093019
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Originally posted by Cashmeoutside ↑

It’s worth keeping in mind that since 15 Aug the SP has more than halved from 50c but only 17m shares have changed hands - some 7% of issued capital. In my view the story is little changed though the drill results have been few and far between and haven’t quite hit the levels of the 50 odd metres at 1.5% as one of the first holes at A4 showed.

I don’t know what motivation the seller/s have - though it may come out one day. The shakeout has no doubt removed some of the short term traders and speculators leaving just the long term believers - this could turn around quickly due to the lack of liquidity, we just need a few hits or some other reason for buyers to come in.. feas results I suspect will attract some attention but this is a while away yet.

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It’s not the selling in isolation that’s driven the price down to these absurd levels, it’s the utter lack of buyer interest - not just the ASX but on the LSE too.

I cannot believe the company invested so much time & money listing in London for such a lack of activity. Seems like a costly & distracting miscalculation in retrospect

MOD Price at posting: 24.0¢ Sentiment: None Disclosure: Held
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