My understanding is that Cannacrap was at it again yesterday, by selling heavily at the close - they knocked the share price down substantially and eliminated the positive upward movement.
Were they responsible for today's situation as well. Either way they can't hold it down forever. Century becomes a new company, in a US$1,017 gold price environment, once the deal closes in 45 days. Actually, work starts immediately and we receive a get a $4M bridge loan in 14 days. Cannacrap and others can manipulate/suppress the share price in the short-term, but they can't stop the company from taking positive steps towards moving forward. I assume "immediately" means early stage work (i.e. placing orders, initiating the recruitment efforts, ground preparation onsite, finalizing deal to get the new Lamaque GM onboard) towards restarting Lamaque has begun.
Can you post the trading details when/if you get the chance? Thanks!
3 comments:
IM HOLDING ON TO MINE
Production, I don't know about you, but I'm sick and tired of Canaccord always being there to take the wind out of our sails whenever there is an attempt at an increase in share price.
They don't sell to get the best price, but to discourage anyone else from buying. They always hit the bid - often with large blocks to not only take out the current bid, but to lower the bid price. It precipitates others selling out of fear that they might lose their paper gains.
Yesterday they were the biggest net seller and today they sold twice as many shares as yesterday. The details of today's trades are posted.
One question I'd like to raise is whether Canaccord is acting for themselves of for some major p.....off client (who would like to send PK to the poorhouse). Also, is there any way to tell whether Canaccord is shorting the stock when they are dumping it in such large volumes? I hope they get burned in the process.
It seems to me that Mr Finskiy and Mr Scola have sufficient clout to protect their investment in CMM from trading sharks (like Canaccord). It will be interesting to see who will beir nominees to the Board.
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