This was all caused by that PR. MMs can't make people sell, they can only set the enviorment to better support buying or selling. Investors are the ones who sold and they sold for a reason.
You had the company put out a horriably written PR on the worest day of the year to release a PR and the PR it self had bad results. You have a copper property that was billed as a "olympic dam" type of copper property that found no copper worth mining so far. Now of course they have to analize alot of the core still, but so far the numbers are bad.
On top of that, one must keep in mind this is after we already did one round of drilling on our best gold property and didn't find much of anything on that one either. Even once they finish analizing the rest of the cores from RR, many more rounds of drilling will be needed to prove whats actually in the ground.
All this PR did was continue to show the lack of experiance on the business side of things from management. They should have waited untill all of the cores were fully analized and all of the data was in before releasing any numbers.
And no the MMs didnt cause 30+ million people to suddenly log onto their trading accounts the last trading day before christmas and sell their shares. The PR did that.
IR telling people that only 4% of the results have been analized so far to me sounds more like damnage control than anything else. It is true that we need to see the full results and that more drilling will need to be done in the future, but so far what has been released doesn't look good and the market reacted accordingly.
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