USA and EXN crashed 14% and 13% .
Posted by MrBigger on IV
How's this share performance for getting added to an index??
$5.17 (CAD) -$0.78 -13.11% $5.15 (15) $5.61 (15)
466.65k $6.02 [$5.17] $6.11
I emailed the OSC and T.USA concerning the fact that the bulk of the shares, 370,000 were dumped after market close on the same day that USA is being added to a S&P index.
I was impressed that the CEO of USA emailed me back before 6pm to advise me on what happened.
CEO responded to my email last night
Sale was due to a junior index fund called Pure Funds Silver ETF which sold out of a number of their Silver equity positions without any warning to the Company's affected. The parent company had announced that it had been sold to another Investment firm on July 31, 2017. The fund announced that it had changed it's investing criteria today and preceded to sell down 6 junior TSX silver stocks just before and after market today including Sierra Metal's, Excellon Resources, Kootenay Silver, Santa Cruz Silver and Impact Silver. According to market intelligence, they sold their entire position so it is a one time sale.
I am extremely impressed that the CEO of this company replied to a small retail shareholder so quickly. My confidence in the future of this company is greater than ever. News will be issued next week on updated reserves and resources and USA will be presenting at 2 major conferences this month.
