Todd,
Thanks for posting the release. I wish they could have said something about the drilling, depth reached, expected time to finish etc.
As for shorting stock in the less than $5 range, that's normally impossible for us small investors. I don't believe we have seen shorting, I think we have seen somebody selling as much as possible, which means that the seller doesn't think much of the company's future.
There is also the possibility that one or several MMs are artificially keeping the price down, in order to accumulate at a low price. However, up until now, the daily volume has been peanuts, which means that this stock has been very uninteresting to try to manipulate.
But daily movements are not interesting, because if this UPR deal is a bust, the stock will totally tank, maybe disappear, and we lose our investments.
If there are good drilling results, the stock will start to head North and who knows where it will end.
Even mentioning gold prospecting (the Topper deal) will scare people away (Bre-x is very contagious!).
So this stock being of a somewhat binary nature (all or nothing), I think that can explain why somebody is selling at any price. Better something, however little, than risking to get nothing at all.
How long do we have to wait to know what is found between 1012 and 1020m depth? I'm getting impatient not knowing when to expect to know.
Well, it will be something to tell the kids. Dad's Best/Worst investment ever!
Regards
ps |
