Hello Phil, I have previously followed your numerous posts on the Gold Monitor, and found your analysis to focused, intelligent, and well thought. Welcome! I am asuming you are a shareholder, your views are welcome anytime.
Our discussion on who is selling and buying is more focused on who may be shorting GHE at this time. Mr. Dydo has current net trading patterns available at his website. It is my current opinion, after reviewing Mr. Dydo's charts, that Canaccord has shorted this issue, perhaps as far back as March. Whether these are naked shorts, creating a larger float, or just your run of the mill "illegal" shorts, I can't speculate. My suspicions were confirmed when the day of the October 2 news release, Canaccord, in a flurry of activity, purchased a hedge/flip position just in case large news was announced. Their recent buying is encouraging, and the recommendation in their newsletter is positive.
As for First Marathon, it would look like a large shareholder has lost his nerve/patience/mind by selling at these prices. One other option, perhaps First Marathon was hired to liquidate the 918,000 shares for debt trade the company negotiated. If the creditors are desperate for cash, .75 on the dollar might not be unreasonable. There was no established hold period on these shares. If this is the situation, First Marathons sellathon(g), should be just about over.
Regards Hugh |
