it's not the first time this company has put out un upgrade to their resource and the price has gone down. i recall this happening last year or the year before (or both) so I'm not sure the SP decline on the announcement is the fault of management (this board or the previous one). The important thing is that they are increasing the value of the tenements by upgrading the resource and therefore the long term value to shareholders.
the drop was on about $8000 worth of turnover which is next to nothing and could be for plenty of reasons - none of which I think has to do with the announcement which is positive. plenty of other resource stocks were down today
i'm happy to keep buying at these levels, the company has two solid cornerstone investors who have shown strong support and a promising drilling program coming up....unless you're just a short term trader looking for a quick profit then I can see why you'd be complaining about management not "marketing the results".
Have you asked yourself - with the top 2 shareholders controlling 30% (and the top 20 = 50%) of the company what benefit do they get from attracting others into the stock? if the stuff if is there and they find it then that's all the marketing that's needed.
PS - have you read the 2012 annual report? i'd suggest having a read (and noting that the company would be due to lodge their sept quarter trading up date shortly as well).
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Mkt cap ! $7.068M |
Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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6 | 1534407 | 0.012 |
3 | 1018000 | 0.011 |
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1 | 100000 | 0.008 |
Price($) | Vol. | No. |
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