I think it's bullish because this one buyer has put in many hundreds of thousands of dollars in the last few weeks on the TSX and they are from Canaccord. Canaccord is an insider. Their customers are not of course but they obviously talk and ask for recommendations. The seller is still Dundee and there was also a arbitrage to be done which was logical. So I think we're becoming more and more bullish because I really don't think that buyer is uninformed.
Thanks for the explanation, but if you call them, they'll tell you that there is no private placement coming for a long time. Financing first, then time for stock price to build (with marketing efforts) and then a private placement some time in the future. If there's a private placement when we're under 15p, I'll be very disappointed.
I'm more interested in who the buyer is. They've been buying for weeks - millions of shares - and it's a Canaccord account.
The buying on the TSX continues to appear to be a connection to an insider.
I've been watching this constantly and it seems to me that all that happened was someone noticed the arbitrage opportunity on the TSX and sold their shares to bring it down to the level of the LSE. Then it seems that someone on the LSE was watching the TSX and assumed that something bad happened so they started selling - just a little bit in comparison mind you, but enough to bring share price down. I believe it was just an arbitrage - I've been watching for weeks wondering why someone doesn't arbitrage it.
I don't know for sure about the identity of the buyer, but it appears to be an insider's connection who has bought a few million shares over the past week or two and is still buying today.
It appears that insiders are scooping it up. That big seller on TSX obviously had more to sell - they came back to sell more earlier. Now we're up to 3,188,100 sold on TSX today so far.
It appears to be down because someone did the arbitrage between LSE and TSX. You can't blame someone for doing the trade - easy way to make a few bucks.
Imagine 90p - that's 20 times what it's at now! All because of 1-market sentiment and 2-no financing finalized yet, but both of those 2 factors can change quickly.