Dayton Mining (DAY) on TSE & AMEX Message Board

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Gold/Mining/Energy : Dayton Mining (DAY) on TSE & AMEX

DAY 69.00

-0.1%

3:55 PM EST

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To: James F. Hopkins who wrote (117)	4/8/1998 12:26:00 PM
From: andy	Read Replies (2) of 568

Its you that seems confused,the fact that 'dayton was already down" has no bearing upon what happened after minorca came on board.Up till this point the share price was following the price of gold down as it should.Feb. 4 it was announced minorca had purchased 5 mill. shares and within 1 week day fell through previous support of 2.25can. and went as low as ~1.63can. and now 2.25can. has become resistance. (2)You say without mars purchase it would have gone lower. This is ridiculous as mar did not purchase these 5mill. shares on the open market as volume and price charts readily show.Can you find trades at 3.20 a share, hah. (3)Mars ceo purchased these shares directly from days ceo and payed a premium because in exchange he became the new ceo of day.In no way does the price he paid support days share price as these were not bought on the open market and this purchase reps.something completely diff.(5)my point about days price behaviour relative to gold still stands.Yes day was down previous to mars announcement but this was related to the decline in the price of gold to 280oz.Gold has now appreciated to 310oz but days share price has not increased to the degree it should have and most importantly this has never been the case before.It may not be mars invlovement with day that has caused this change but it certainly appears the most likely. P.S.Only a fool would add to his position in a gold company when gold goes up and the share price falls.No I have not added to my position since this scenario evolved i.e. ~feb.10. Day probably will appreciate in value however many other gold companies have appreciated more in % terms since the price of gold has reversed to the upside and the nonparticipation of day makes it a poor candidate for my money.Good luck and happy investing.So far this year the avearge gold shares have aprreciated 24% and are the second best sector.How have you done with day?

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