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06/06/18
21:28
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Originally posted by teerak
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The last run from 1/2 cent to 2.5 cent occurred over 10 days with a total approximate volume of 280 million shares changing hands. 50 million units were traded on the way up and a 100 million volume bar was registered at the top. From recollection total stock issue at this time (could) have been around 1.2 billion units and if this figure is correct approximately 28% of total stock changed hands in ten days.
The current number of shares on issue has been put at 4.3 billion and if this is the case that number and is four times greater than when the price rallied from 1/2 cent to 2.5c so looking at today's market volume of 15 million units traded this equates to less than 1% of issued stock changing hands. Based on 4.3billion units more than 40 million units would have to traded to equal 1% and more than 400 million units would have to change hands to equal 10% so today's volume is merely a spit in the bucket and with trade volumes continuing to remain low the manipulators and sellers are able to control price and drive it lower. Thats why the price hasn't moved an inch on the back of three positive announcements.
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For your information GMC has only 2.6 billion shares on issue at the moment and 70% of these are held by the top twenty shareholders so only 30% are beinbg traded at the
moment