If AUNFF finishes below .82 today & does not bounce back up, descending spt levels are: .76, .73, .70.
Something is not right with this price action. I know there was a big runup, but it should not have dropped below .82. If this is turning into another USSIF, I'll lick my wounds, get out & not look back. I don't think it is, because of its huge upcoming increase in production. But if it PERFORMS like it is, then the huge increase in production won't matter.
Fortunately, I have lots of dry powder. But won't give this another penny until it quits bleeding more than it should.
Great story at AUNFF w. new mines & significantly increased production around the corner. But the price action just wasn't acting right. Now I know why. Whenever there's a huge excess of shares, or dilution of shares, share price of that company always takes a licking. All these diluted/ outstanding shares give me the creeps. I licked my wounds & got out, until these way too many outstanding shares get under control.
Now I know to include # of shares outstanding as one of my filters. Fortunately, I can make up this loss w. my Credit Card Rewards Program, which will put an extra several hundred dollars in my brokerage account.
"Management would have to spend all their profits for YEARS to accomplish a buy back worthy of notice. JMO."
You are correct. 10M shares would be a drop in the bucket. I do not see it happening. Maybe Lenic does want to run for President of MX. If so, he better start buying undervalued properties pronto, turn them around, and Carlos Slim his bank account.
I would think with the ramp up in production upcoming that SP would be going the other way. But, Aurcana seems to be afflicted by what ails all precious metals miners: Hedge funds and traders buying the physical and shorting the miners. ETF's are a double edged sword.