Geier Fund Out?
If the largest shareholder, the Geier Fund, sold and is now out, they must have taken a huge cash loss to get out all at once! They owned 10% of the shares. This would explain the price drop. It also possibly allows the large short positions still in the stock to cover at a nice profit. Good for them as well if they can do it. Not much management can really do about the price of the stock in any real and lasting way until value in the ground is proven to the point that institutional investors want in in a very big way. And this is coming!! So why sell now? You would think a fund like this would be in for the long haul (3-5 years), especially since the gold market seems to be turning and ready to go to $2,000+ soon. I mean the stock has only traded between $1 -$10 range all this time. Big deal!! This is kids play! It is nothing if you believe as I do that the stock will eventually go to $30,$50,$100 $200+ in this short 3-5 year period because value is truly their in the ground on many projects, a very special point in history has come again for Gold and other metals and a very qualified management team is on the ground and in place to bring it all together. If your a trader and can trade this stock in its current position, great!. I cant ( I am not that good at trading)and so I wont. I see the big picture and truly believe in this picture and until something changes that it is for me all just noise. Others obviously feel very different about the company and do not see value or a future. I respect these views, but I do not agree with them. Good Luck to all!!