I've also thought that there is a buyer. Usually round number purchases, typically 5,000 and sometimes 10,000. Maybe the 40,000 purchase the other day was the same person too. This is a slightly ridiculous thing to suggest, but I wonder if this person is supporting the share price. An extra 50,000 purchase on a "sell on news day" is all it takes to ensure the price doesn't fall back. It's very important to keep the share price at a sensible level in the run up to PFS and at a time when an offer could come in for the company.
Good to see
the rise today despite the fall in the gold price today. A nice steady move north in the run up to the PFS will do nicely rather than a quick spike.
I don't think it's about buys vs sells, it's about *volume*. The move up over the last few weeks came on the back of very strong volume, over double the daily average. Since last week the volume has dropped off significantly which means the MMs can play their spread games and drop the sp a little bit, which when you think about it, is exactly what they're there to do - to make a market for the share. When heavy buying volume comes in the sp moves up very quickly, and that is what we need for a significant rise. Once the PFS is out we can only hope that big orders come in and IIs will want a piece of the condor pie, if that happens next we can expect the sp to double easily. Sustained, large buying volume is needed and we haven't really had that over the past year or so, you can't blame the MMs for lack of volume. Remember, goldies (especially juniors) are still hugely out of favour. The gold price is being hammered daily on the COMEX and it seems the powers that be are throwing everything at keep the gp under $1300. It's just a matter of time before real fear comes back into the markets and everyone wants back in gold, and at that point the manipulation will be overrun. Regardless of that macro picture, Condor's future looks very bright, and the attention towards junior miners is increasing and M&A activity seems to be picking up. Let's see what the PFS brings and how the macro picture changes towards year end.
Did you purchase the 46 and 28 today?,,,,lol Nice to see this moving in the right direction hopefully it can continue over the coming weeks
I have been noticing that there seems to be a buyer purchasing in blocks of 5000 or 10,000 shares. This has been going on for a while now. Wonder if it is the same individual ? Then again, maybe I am imagining things....
You put your finger on it with the valuation of CNR existing gold resources at £17 per oz. We can all read the price of gold figures, so if the wider market doesn't want to play at the current SP, the MMs/regular clientele and nominees certainly will. This company has a limited number of shares in circulation, so unmotivated sells present an obvious opportunity for those with capital or credit. With an imminent PFS and a funding issue to address, this may not be one for those of a nervous disposition. For me, and a number of regular posters, it's a no-brainer.
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