If I remember correctly, he sold at 60c, and this created a hullabaloo on HC..... but was this was a portent of things to come from an insider with access to company 'performance & prospects' and the sophisticated advice SLR receives in such matters as gold price hedging etc ?? So, my math says that he's $700,000 better off than if he held.... smart trade..... which begs the question.... if SLR was overpriced at 60c, why isn't 'Miles' buying back in now ?(or other SLR board & executives) ..... either sensitive price affecting deals are in progress ...OR ...SLR is properly priced, is not going to pay dividends for the foreseeable future (except in the form of executive salaries) hence why hold ??? As I write, there are 29 sellers lined up at 39c offering to sell 130k, and 14 sellers offering 350k shares @ 39.5c, while the low for the day is 38.5c ..... I think we can assume that 40c
As I write, there are 29 sellers lined up at 39c offering to sell 130k, and 14 sellers offering 350k shares @ 39.5c, while the low for the day is 38.5c ..... I think we can assume that 40c is no longer 'support' ... how much 'resistance' only time will tell. Its impossible to tell these days the identity of sellers, so one cant distinguish people traders from robots, short sellers or institutional selling, but the shorts appear to be in control.
The dilemma of 'true believer' SH can only be cured by the revelation of unequivocal fundamental good news.
The tone of the MD & chairman's report in the Annual Report implies they think they've delivered, but the market was obviously unimpressed, to say the least, as there wasn't even a momentary bounce post report !
Also, does the MD and board believe that SLR SP understates its true value ?? Silence is taken as a "NO" by the market !! So, Cool Hand, what is it ?? The Helen Keller defense is unacceptable. WTF is the grossly over remunerated part-time chairman doing?? From where I sit, he also appears to be a deaf-mute.
The only director to unequivocally show what he thinks of SLR's valuation & prospects is 'Miles' Davis.
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