It appears clear to me that someone is using Canaccord to ensure that close each day at 9.5 cents. It makes me wonder which, if any, of the following is taking place:
1. Prepartion for a reverse split to put TDC over $1.00 per share, so as to make TDC eligible for listing on TSX in conjunction with or soon after announcing permits and or financing. From what little I know, I believe that there has to have been a steady historical stock price, and closing at 9.5 cents daily could be part of demonstrating this average price history. Ultimately, this scenario would be timed for major news like financing and permit, and would benefit the underwriter/brokerage the most, in my opinion.
2. Preparing for a private placement; or
3. Preparing for financing that will not dilute a major stakeholder's interests, if it requires some sort of calculation of shareholder value or market cap, and the men behind the curtain have come up with a requirement for 9.5cents to be the recent average.
In any case, I think that this activity, manipulative as it may appear to be, may be associated with major news in the next few weeks.
GENE SKELLIG