To me there is no logic in this thinking. Since December 1st, the s/p has dropped 39% (from 38.5 to 23.5). Whether one is a strong hand s/h (Dundee, Korea Zinc, Colonial First, Resinco, Jae Sim) or a weak hand retail s/h, one would have hoped the financing confirmation news would have come out long before now. All shareholders want Woulfe to be successful. The 39% drop in s/p is simply building in a significant portion of the added risk, given the delay in the bank financing. There is no conspiracy to squeeze out weak hands. The strong hands and the company would have been more happy to have the s/p much higher. Day traders are not factoring into the s/p given the low volumes.
It is a good sign that the strong hands seem to be holding onto their shares. It suggests that they believe some resolve of the financing issues is still in the pipeline. We long retail shareholders hope they are right. Bottom line is that the turning point remains firming up the bank and IMC financing. If that can happen this month, then everything is Jake.