raymond james was lead underwriter in the .63 PP late last year. The underwriters took almost 8M shares in the overallotment. You can be sure that this is what was being dumped and has been dumped for the past 2 months. Most of the actual (non over-allotment) shares of the PP were taken by large Cdn mutual funds, see my previous post.

My guess is that they should be done selling those shares and the selling pressure will subside. I hope that VIT realizes what that overallotment had done to their share price and they don't offer that incentive the next time the go to the market. The merits of the company should stand on its own. And now they have contacts with most of the precious metals mutual funds in Canada and can do a PP to them directly without the incentive to any underwriters.

It was the selling of these shares ( in my opinion) that knocked us down when we were running past 1.00 after that last drilling release. That is when the underwriting syndicate started unloading the 8M shares.

Note - BMO was the large buyer today and they have been buying consistently for the last coule months whenever there have been large blocks for sale. Comark (ie Sprott) had also added in the millions of shares in the last two months.

jjissel