Minera Alamos (TSX.V: MAI)
The Minera Alamos price has been weak recently, (not helped by the lower gold price obviously), but with such positive news of the first gold pour being announced, it did seem oversold.
It has now been revealed that Osisko Gold Royalty have sold some 14 million shares between the 11th and 13th November.
|Minera Alamos||TSX.V : MAI|
|Market cap||C$278 m @ 63c|
|Location||Sonora, Zacatecas, Durango – Mexico|
Minera Alamos Share Price Weak as Osisko Gold Royalty Reduce their Holding by 21.4%
Minera Alamos (TSX.V: MAI) price has been weak recently, (not helped by the lower gold price obviously), but with such positive news of the first gold pour being announced, it did seem oversold.
It has now been revealed that Osisko Gold Royalty have sold some 14 million shares between the 11th and 13th November. This reduced their shareholding by 21.4%, and brought in $8,072,300.
It seems the selling has stopped, for now.
The risk to investors is that, if they try and take advantage of this lower price and buy, and run the price back up, Osisko CEO Roosen may then issue the order to commence selling again.
A bit of a dilemma, but it would seem that Osisko don’t want to sell at a lower price than the present one, so it’s possible that any buying at this level will be at the floor, provided the company delivers at the operational level of course.
Personally, as a shareholder, it’s positive to know what caused the share price weakness.
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At the time pf publishing the author holds shares in Minera Alamos, bought in the market at the prevailing price on the day of purchase .