Doesn't take much for it to go up or down as there aren't many shares on issue and even less available/been traded.
No one buying + a few little sells will mean this goes down a bit, while no sellers + a few people stepping up to buy means this goes up a bit (daaahh).
We've seen it recently easily sail up to 16c on no massive coin, and just as easy back down to 10.5c on not much coin as well.
It's bloody annoying seeing it yoyo around, but it should get up to and above recent highs in the lead of to all of the upcoming drills.
I am very comfortable with my large-ish position and looking forward to the next 2.5-4 weeks.
~$5M of cash and cash equivalents, $16M JV with Xstrata, very prospective grounds (to say the least) surrounded by massive deposits, and a Market Cap of $8.6M says to me that the current share price is nothing short of a joke.
I don't want to say that someone has a few and is accummulating/controlling the price because I am of the belief that Mr Market is always right but yeah...
I wonder where the SP will be in a few weeks.
Very happy to hold and find out!
AXT Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
