Hi Everyone, I was wondering if any of you are following XG and if you have noticed the sharp decline of it's price since yesterday. Does anyone know why? Is it due to the Closing of the Financing? But the news about the financing was known a while now and the final closing was announced on the 12th of July... so why is the price action only start declining significantly yesterday? Does anyone have any thoughts on this? Can the price decline relates to other news? thanks for your input! As of now, it's bid/ask is at $12 on the tsx...
XG: Extorre price action...
I emailed the company yesterday and got a phone call back within 20 minutes! They say there is no bad news but the stock had run up pretty fast and some people were cashing in yesterday and drove it down hard. My guess is that it is at a pretty good buy point right now at just above $12 USD
Tankiki .. I was thinking the same as you, why is XG taking a dive??? I can't find any news anywhere. Decided I buy just after the open of trading today, since it looks like a discount that won't last long. The stock dilution from 2.4 million new shares may have had something to do with the big dip, but with 88M shares outstanding it seems the dip is overdone. I'm long, so could care less. It's a buy opportunity that will be short lived, and I think a drop to $11 is wishful thinking. The stock leveled out most of the day at around 12.50, so the drop looks done. It even blipped up at the end of the day.
Looks like Extorre has shook off the program trading. From its low on Friday at $12.20 USD it is up 8.6%.
I've had Extorre since it split off of XRA. With all the ups and downs this will be the major lows in the months and years ahead. I would just buy the sizable dips and not be concerned on the price movement. The only concern I have would be if the mine became nationalized. Still, I would be a buyer.
One day we will all get out and turn miners into cash and then into the hard assets. Having the physicals in hand is worth more than two in the bush, plus it's harder to trace, if you know what I mean.