shares for sale will diminish quite rapidly.
Its seems we are always at the mercy of confounded external event. IMO, todays dump of232K shares that wiped out another nice support level BMO had kindly set up for us was more unloading from Strategic Metals(SMD).
In the last week alone SMD announced that they are buying back up to 10% of their shares(because they feel they are undervalued) costing roughly 6.5M$. They are also financing two other companys to the tune of 2.2M and 2.05M respectively. This is clearly a drain on funds for a junior company that first and foremost wants to drill its own large stable of properties.
For the above reasons, I believe they have chosen to liquidate some or all of their Largo holdings. I believe the shares they were given in lieu of cash were valued at .45. I'm not sure if they get a tax loss for selling them - I would guess that they do. So hopefully, youre right stack and this will dry up by year end.