I have to agree with Josameyer in regards to the latest, consistent, most obvious, repetitive activity being played out by Canaccord Genuity...as mentioned by Josameyer they come in and drop the last bid by $.01....this appears to be taking place in order to keep the share price range bound.
At the same time they seem to have found a Tag Team Partner...Cormark Securities...who seems to accumulate the stock and then sells off large blocks to a possible predetermined client....in otherwords they handle both ends of the transaction....Nice!
What is going on?
Kewl2 has previousily mentioned that he/she believes that an entity might be accumulating a position in order to "take a run" at Brigus....this is one possibility...to be sure!
We must not rule this out...one thing is for sure...it appears that "they" are attempting to fill orders for a client(s) in a pre-established price range.
I find this latest behaviour very interesting...either way it is a very positive development, in my opinion. The shares in this range are most definitely falling into strong hands and "they" will most likely continue this behaviour as long as there is shares available.
It will be very interesting to see what happens when the market catches on to what may or may not be going on...if there is a potential buyer(s) that is accumulating the shares then they will soon have to pay up...to what price?...that is a question I cannot answer. If the share price breaches their agreed price purchase accumulation range...then they will have to come out with an offer before the share price gets away from "them".
I believe is more than likely not uncommon to have companies the likes of Canaccord Genuity & Cormark work with a potential suitor...help them accumulate a sizeable position...then sell their shares once the offer is on the table...works very well...make money on the transactions in the accumulation stage...make money doing the sale...make money selling their holdings at a premium...Nice! I cannot say for sure that this is what is and has been taking place in recent trading history.
Of course...it is all speculation...we do not have the facts and must resort to making assumptions and act accordingly to take advantage of the situation.
In my opinion...Brigus is an excellent turn around story and it is and will no doubt attract investors in one form or another.
Looks all good to me!
P.S. My statement in noway makes accusations of any kind towards Canaccord Genuity or Cormark...I find their activity very interesting...very interesting indeed!