Seems to be alot of people that are just holding or accumualting small parcels like us.
Everytime we get a sniff of going over $1.00 buyers seem to come from off screen and sell the price down. The motivation for this is anyones guess?
Few theories.
They sell down small parcels to scare people and accumulate larger parcels at the low price.
or
Keep the price low unitl the SPP with sophisticated/insto investors. Get the hopefully last share grab at a low price then let it run.
Or from way out of left field?
Maybe the people in control want to keep the price lower so that if/when cliffs or someone else come in with an offer they can quote average daily closing prices over a period, then spruik how good the offer is. I think the average punter is smarter than this and realise the potential of this company mid to long term and would not sell at a supposed premium. Current management seem to do alot of nothing (nice way of putting it. Perhaps they will be happy with this. (does any of that make sense?? probably way off the mark)
There is certainly an agenda of some description here as it happens too often to be a coincidence.
I am happy to hold along with the likes of Cliffs, Valin and Mr Congilin Yue. They surely know alot more than we ever will and one day we will be in the serious money (if we have the patience)
Reg
GWR Price at posting:
91.4¢ Sentiment: LT Buy Disclosure: Held
