For comparison purposes, I was looking at West Timmins Mining. For those who are not familiar with what went down there, here is a summary...
June 9....stock closes at .76 on average volume (about 228,000 shares)
June 10...stock runs up to .93 on about 2,073,000 volume
June 11....stock runs up to 1.11 on about 3,737.000 volume....company makes an announcement...."West Timmins Mining Inc. (TSX:WTM) (the "Company") announced today that there are no corporate developments or undisclosed material changes involving the Corporation to account for its recent rise in stock price."
Fast forward to June 22....volume drops off....stock closes at .96
June 24.....announcement....."West Timmins Mining Inc. (TSX: WTM) ("WTM" or the "Company") today announced the broadest high grade gold intercept ever reported from the West Timmins District - an impressive 83.40 metres (273.55 feet) grading 12.75 g/t (0.37 oz/t) gold"......stock runs up to 1.60 on volume of about 17,152,000
I would not be happy to have sold between June 11 and June 24. I wonder if the SEC were to investigate....who were the buyers during that time period and who were the sellers....I wonder
It would seem this sort of practice seems to be.....shall we say acceptable....or maybe we should use the word tolerated.....afterall, it would be difficult to prove any wrong doing
With assays pending, I would expect our regulators to start holding these companies accountable....hold their feet to the fire.
My suggestion would be to halt the stock until the drill results come out...even if that takes weeks......afterall, I think it is more likely than not that someone knows something that the rest of us do not know.....we, again....have to rely on rumors