Dundee trades under the TSX using the symbol DW.
A look at just their last month's share price shows a decline from $13.00 to today's price of $6.13. This is more than 50%.
If they are dumping it is likely because of their own fear. Fear that if Rousseau wins the retailers may start to dump and they are left out of control.
And Fear that if the retailers and Richard win then Rousseau may start suicide bombing the share price.
My guess is that they either lost a lot of money on this stock if they purchased at $4 and $5 in the last PP or broke close to even with the 2006 PP at .50 cents and .75 cents.
Either way, they are getting out which is good for somebody buying.
Prepare for a "shock and awe" pattern over the next two months as we face the onslaught of fear selling, tax loss selling, revenge dumping, and any other kind of madness which can only be described as desperate actions by desperate people.
I sleep well at night knowing that Noront has at least Eagle One defined if nothing else transpires and that Eagle One is an economic win for us.
I also sleep well knowing that Noront has enough money in the bank to keep us going for a long time (if they scale back some production) to allow the doors to stay open until the market and commodities get better.
The only thing I don't sleep well on is Rousseau true intentions.
But we can only control what we can control and this week that is voting and encouraging others to do so.
At this point the house if half on fire but I am fine with the fire department putting out the fire as much as I am with the house burning down completely. We didn't start the fire but we can still stick around while the adjusters and builders clean up the mess and provide us a hope of a better day to come.
Still hard to believe we hit .60 cents today. The equivalent to where we were at pre-McFaulds would be Noront trading at .03 cents.
Fighting the fight,
M1.
