Quiet day for Xtract Resources with POG rising back above US$1,500 /oz along with an unsurprising drop in share price ( SP ) by Market Makers ( MM’s ) of -2.04% on 182,373 shares bought against 30,229 shares sold . I say unsurprising since the ( SP ) is following similar patterns seen by long term investors many times before . With ( MM’s ) fishing for stop losses before news arrives I’m hopeful of getting a few around the 1.10p /share mark . That could easily be blown away by news or another intervention by Mr.Colin Bird buying more shares at 1.108p /share as he did last time MM’s went fishing on 2nd August 2019 .
I’ve plenty of patience though since I bought two trading tranches of 100k shares each at approx 1.23p/share on Friday . Not a lot compared to some but the amount of times I’ve rinsed and repeated my first two trading tranches is beyond count It’s the follow up trading tranches I buy that make most profit .
News related to Omnia progress at Guy Fawkes ( GF ) hard rock area within the Manica prospect is most likely to arrive soon . Whether it be stock piling near the Omnia hard rock processing plant or an announcement stating processing has commenced doesn’t really matter . Since Mr.Colin Bird agreed with Omnia they could cherry pick areas of high grade material at ( GF ) to make a healthy revenue stream to help fund their venture .
I may be wrong with regards to next news since Zambia progress is moving at breakneck speed compared to fair brides with copper processing not far away .
Just worth trading the ebbs and flows as the ( MM’s ) do what they’re supposed to do , create a market even when volumes total less than 225,000 shares traded in one day …