Ironic how there were very few buy trades prior to the uptrend that started last Monday at 0.87p /share to buy and yet we’ve seen a great many sell trades going through of size since it reached 1.35p /share to buy yesterday prior to close of trading . Even more puzzling is to buy towards the end of trading only small quantities of shares were offered before Negotiated Trading ( N/T ) kicked in but some lucky person managed to bag 90k shares at 1.149p /share 30 seconds before close of trading . Spread quickly went back up to 1.10p - 1.20p .
So my personal thoughts are Market Makers ( MM’s ) took the share price up to close their shorts . The volume of buy trades prior and during the rise from last Monday rules out traders . Even before the last tranches of short positions were closed my 150k share tranche to buy was sent to N/T .
With Mid July being only days away the alluvial results from Sino 2 should be far better than previous quarters with far more plant on site and a commitment to meet minimum throughput targets it should be a cracker . Not forgetting previously stored dorey bars have been sold but current dorey bars may not show in the quarterly results as sold hence worth checking to see how much gold is now being stored at Manica in the Q2 2019 results . It’ll obvious to me it will be far higher than what we had before or Mr.Colin Bird would never have sold all stored gold at Manica having used it previously to even out quarterly revenue figures . He is after all a very cautious steadfast man .
So to the lucky person who bagged the 90k shares at close of trading I say well done since my 150k share request was sent to N/T I blame greed for me not bagging them but then share price was taken down to off load MM shorts in my mind so many be not greed just out foxed by the MM’s .