I'll take a stab at illuminating you there Sum4All
The obvious reason to me is stock options. As you commented in your subsequent post...
"Those also making the moves....
posted on Mar 29, 10 07:09PM
on NOT also know what and when something is coming"
This trading activity is very similar to what occured just prior to NOT issuing stock options at .62. You know, one day after they announced hole 49....but, due to the wording of the news release, nobody could quite figure out if the news was good or not....not until about two whole weeks later.
Ok....so here's the news release announcing hole 49 "Noront Resources provides exploration update" ....quite the catchy heading...ok, so that is June 29
Then June 30....."it has granted 3,865,000 Stock Options set at Cdn.$0.62 for a period of five years"....nice move....and here's the trading action over the next little while...
| |
| 07/16/09 |
0.97 |
1.53 |
0.87 |
1.42 |
20,007,874 |
| 07/15/09 |
0.64 |
1.09 |
0.64 |
0.99 |
15,267,850 |
| 07/14/09 |
0.61 |
0.64 |
0.6 |
0.63 |
376,785 |
| 07/13/09 |
0.62 |
0.63 |
0.59 |
0.61 |
497,332 |
| 07/10/09 |
0.62 |
0.63 |
0.59 |
0.62 |
662,100 |
| 07/09/09 |
0.62 |
0.65 |
0.61 |
0.62 |
696,444 |
| 07/08/09 |
0.66 |
0.67 |
0.6 |
0.61 |
2,016,289 |
| 07/07/09 |
0.7 |
0.7 |
0.64 |
0.67 |
1,569,959 |
| 07/06/09 |
0.72 |
0.74 |
0.67 |
0.69 |
2,061,480 |
| 07/03/09 |
0.66 |
0.69 |
0.65 |
0.69 |
762,845 |
| 07/02/09 |
0.65 |
0.69 |
0.62 |
0.63 |
2,302,292 |
| 06/30/09 |
0.6 |
0.65 |
0.6 |
0.62 |
2,457,280 |
| 06/29/09 |
0.56 |
0.58 |
0.54 |
0.56 |
543,600 |
| 06/26/09 |
0.57 |
0.57 |
0.5 |
0.56 |
2,253,510 |
|
07/16/09
|
0.97
|
1.53
|
0.87
|
1.42
|
20,007,874
|
|
07/15/09
|
0.64
|
1.09
|
0.64
|
0.99
|
15,267,850
|
|
07/14/09
|
0.61
|
0.64
|
0.6
|
0.63
|
376,785
|
|
07/13/09
|
0.62
|
0.63
|
0.59
|
0.61
|
497,332
|
|
07/10/09
|
0.62
|
0.63
|
0.59
|
0.62
|
662,100
|
|
07/09/09
|
0.62
|
0.65
|
0.61
|
0.62
|
696,444
|
|
07/08/09
|
0.66
|
0.67
|
0.6
|
0.61
|
2,016,289
|
|
07/07/09
|
0.7
|
0.7
|
0.64
|
0.67
|
1,569,959
|
|
07/06/09
|
0.72
|
0.74
|
0.67
|
0.69
|
2,061,480
|
|
07/03/09
|
0.66
|
0.69
|
0.65
|
0.69
|
762,845
|
|
07/02/09
|
0.65
|
0.69
|
0.62
|
0.63
|
2,302,292
|
|
06/30/09
|
0.6
|
0.65
|
0.6
|
0.62
|
2,457,280
|
|
06/29/09
|
0.56
|
0.58
|
0.54
|
0.56
|
543,600
|
|
06/26/09
|
0.57
|
0.57
|
0.5
|
0.56
|
2,253,510
|
Look at the volume July 9-14....and the shareprice.....remember, this is about two full weeks after the first announcement of hole 49.
Ok....so why did the market not understand what was coming?
Well for hole 49....they describe the sulphides like this...."two zones of disseminated, semi-massive and massive sulphides"
But for hole 47....a much better description of the massive sulphide section..."Hole NOT-09-047 at Eagle One intersected 2.15 m of nickel, copper sulphides including 1.75 m of massive sulphides"
On July 15, they actually come right out and try to tell the market that there is no material change "there are no corporate developments or undisclosed material changes involving the Corporation to account for its recent rise in stock price"
It would seem at about this point....for some reason.....the market caught on to just how good hole 49 was....and by the market, I mean...well, you could look up who was buying here
And, well....you all know what happened after that....the stock makes it's way up to about $3.....then the news....I believe that would be when retail was buying......then down she goes
And now here we are....again
How's that for illuminating
| |
| 07/16/09 |
0.97 |
1.53 |
0.87 |
1.42 |
20,007,874 |
| 07/15/09 |
0.64 |
1.09 |
0.64 |
0.99 |
15,267,850 |
| 07/14/09 |
0.61 |
0.64 |
0.6 |
0.63 |
376,785 |
| 07/13/09 |
0.62 |
0.63 |
0.59 |
0.61 |
497,332 |
| 07/10/09 |
0.62 |
0.63 |
0.59 |
0.62 |
662,100 |
| 07/09/09 |
0.62 |
0.65 |
0.61 |
0.62 |
696,444 |
| 07/08/09 |
0.66 |
0.67 |
0.6 |
0.61 |
2,016,289 |
| 07/07/09 |
0.7 |
0.7 |
0.64 |
0.67 |
1,569,959 |
| 07/06/09 |
0.72 |
0.74 |
0.67 |
0.69 |
2,061,480 |
| 07/03/09 |
0.66 |
0.69 |
0.65 |
0.69 |
762,845 |
| 07/02/09 |
0.65 |
0.69 |
0.62 |
0.63 |
2,302,292 |
| 06/30/09 |
0.6 |
0.65 |
0.6 |
0.62 |
2,457,280 |
| 06/29/09 |
0.56 |
0.58 |
0.54 |
0.56 |
543,600 |
| 06/26/09 |
0.57 |
0.57 |
0.5 |
0.56 |
2,253,510 |
