Hi Floj, Hi Harold,
I am in agreement with Floj in being still very bullish on GMO. If one takes a look at the volume the past few days, it does not look like there was a massive selloff. Unfortunately, due to the slump in the junior gold market, there is just no one out there buying. This was evidenced by the 0.10 bid and ask this morning prior to market opening. The results that were released in my opinion, were not that horrible to justify this decrease in share price. I guess, me being one of the biggest culprits in this regard, in this market, they were probably released prematurely since they only cover one hole and a few trenches.
I do concur however with Harold, that someone did have an inside track on the results - that is the only thing that justifies the massive decrease in price the day before the news release came out. But, being locked in as we are, we can only look towards the positive, in that the 'smart money' as Floj says, is not selling out as evidenced by the miniscule volume we have seen. Remember when GMO released their initial trench results that volume was in the millions instead of the few thousand or at most hundred thousand that we have seen in the past two days. The decrease in the share price is a result of I believe, investors that wanted to make a quick buck as soon as the results were released. With the market the way it is today, I guess releases such as the one we received, are just not good enough. It is interesting to note that the directors of CQL, another stock that I am holding, did not want to release the results until several holes were completed. As evidenced today, that may be a good idea.
Just my thoughts. I'm not selling yet. There is still a lot of excitment to come from this company yet.
Best regards,
Obie. |
