Given that retail holders are unlikely to sell down for ~10% profit on such a small investment (max $15k), then I don't see the SP getting smashed down to the offer price. What the SIs do is a different satory. Good ol' Bruce Matheison wont be selling, that's for damn sure.
The SP did skirt around the edges of the offer price last week but with our first shipment of ore expected end of November, I really do think anyone would be nuts to bail out for such a small return when the short term upside could be considerably higher.
That said, some people are idiots and some people need the cash for other reasons. Anything could happen but IMO, I think we should stay around low 70s until end November.
Now, all of that said, the charts were looking brilliant with a Bollinger Squeeze playing out. Volume would be nice so hopefully a few others get wind of it. If the traders get in for the charts AND in anticipation of the first shipment, we could see 80c in the coming weeks.
GLTA
WDR Price at posting:
74.5¢ Sentiment: Buy Disclosure: Held
