Ivanhoe Energy announces that it knows of no reason for the decrease in the co's share price
Ivanhoe Energy announces that it knows of no reason for the decrease in the co's share price late in the trading session on Aug 8, 2013: There have been no material adverse developments or circumstances with respect to the Company's activities that would explain this sudden drop.
In fact other than settling some SOC's, there has been no changes since the reverse split to explain the drop in share price
Horrible quarter with cash position falling
Back under a dollar, so their not in compliance anymore and will get a de-listing notice so
Investors, long term that is who got rolled on the R/S are deep underwater again
Ivan knows of no reason the stock is falling, Denial
The quarter was not horrible, troll. They had to spend $ on severance for 100 employees at Sunwing - a charge that will NOT be incurred anymore, plus they'll be saving $10M a year because of smaller payroll. They lost 7c/share, and got back 7c/share from Zitong. The loss of cash on hand - from 56M to 49M is just for accounting purposes, since those 8M went into "investments".
On a day in which thinly traded shares volume was barely over the average trading volume of 300,000 or so shares, a 200,000 market sell order would easily (and did easily) wipe out a whole bunch of stop loss orders. The seller of 200,000 shares could have then easily added a million shares at a discount. Only a guess, but seems logical.
That is exactly what happened. And MM has to be involved. I wish it was me who picked up 3.5MM shares at .29!! They covered there and then probably are now going long, with their first purchases at time of covering. This is how the big dogs play the game. Good news is that big dogs are interested in our IVAN and the cooker. Nothing else has changed other than learning of well drilled and sent out for analysis. They obviously have done their own analysis on the samples which makes them say results are aligned with expectations. To remind--their expectations were to find lighter oil that could then be sold itself or blended with heavy to meet pipeline specs. That officially verified by an independent lab would be huge. Also, they are working with the gov of EC on approval of the partner, yes, but also the 2014 development plan and who is going to do what by when. That is the holdup and these drilling results will have a big impact on finalizing the development plans.