Psychological factors play a very bit part in this game and it is summarised as SENTIMENT.
The report was very good, honest and in line with all that I had hoped for. The cautions, for want of a better word, are merely what one would expect of a new operation getting underway.
Silver is a small unique market and AYN is the only Australian producer. CCU I sit off with interest will be the next one soon.
Silver is being manipulated and controlled at every turn possible by JPM. ASX disclosure reveals they have been bottom picking CCU in a fairly large way of late and we know they are a major holder of AYN. You can be sure they have their hand in every silver mine around the planet that they can.
The silver price just prior to the US market open last night was hitting a new recent high so many eyes were on it. Knowing this it was hit down hard by the banksters for two hours. The last couple of times they did that last year the drops were up to $10 an ounce at a time. Whether they can do this now we shall soon see. But as a result people are jumpy and suspiscious and many people owning or contemplating AYN will be aware of some of this smoke.
On our open a 1 million sell order was placed at .09 cents which from my observations over the last year or two for this stock was a typical JPM blocker. Having had a siginificant announcement in my view just last night the volume today was very light, just a week ago 25 million were traded.
So a few more weak hands capitulated today, I was not one of them as the future for AYN looks very bright to me.
And on the line of credit. It is very hard for business today to obtain finance and of course because it is there does not mean it has to be used, so AYN ticks the boxes in this area. If to develop further discoveries on the tenements some moneys are borrowed, it is preferred in my view to the alternatives of capital raisings which have an effect of devaluing the shares of holders.
AYN Price at posting:
5.4¢ Sentiment: ST Buy Disclosure: Held