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Post by pasacancha on Oct 20, 2008 10:06:02 GMT -5
Just thought I would try something. DRV Level 2 Ovt 20, 11AM
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Post by caveman on Oct 20, 2008 10:20:58 GMT -5
that's cool. thanks pasa. looks very thin on both sides. shouldn't take many buyers to bring up the price after the mmg divorce goes through on friday. once mmg holders get their drv shares though i guess the float will get a bit bigger.
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Post by pasacancha on Oct 20, 2008 15:08:33 GMT -5
What is interesting is MMG traded 240k shares today around the 20 cent mark. DRV traded zero volume for obvious reasons. DRV Level II shows you there are currently only 58,000 shares for sale under $1. After Friday anyone wanting to get into Peru will be required to buy DRV. I'm not saying the price will shoot up on Monday but it still shows you the lack of sellers on the DRV side.
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Post by jdc1 on Oct 20, 2008 16:16:07 GMT -5
The price will definitely rise after MMG halts and is officially decoupled from DRV IMHO. Come Monday the SP won't be $2.50 but it will go up.
Just to mention a couple of points that should definitely improve DRV's SP (aside from MMG halting):
1. Pasa #1 should be released in early NOV (just a couple of weeks). It was extended an extra 120m? or so! That doesn't happen unless the drill is in something worth being in.
2. DRV will be listed in Peru. This will bring in a lot of "new money" from wealthy Peruvians who know mining. In fact, I believe they are running tours of the Aguila and Pasacanchian properties for some of these investors right now.
Having said that, can anyone comment on whether or not George or Cary mentioned how long it would take to have DRV traded in Peru? I truly believe this "new money" will make things a little more interesting around here.
But........ lord knows I've been wrong before.
Cheers; jdc
PS; thanx for the level II Pasa, very interesting.
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Post by pasacancha on Oct 21, 2008 11:58:10 GMT -5
I doubt they can file for a listing on the Lima exchange until the merger is complete. Then we could count on a good few weeks minimum after the application is filed. Dec/Jan? would be my guess.
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Post by venturous on Oct 21, 2008 12:14:33 GMT -5
Maybe even later than January. My hope is that we get a couple of good drill resuts soon... The bid/ask is crap today, but that might have to do with the MMG dog...
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Post by eyes55 on Oct 21, 2008 12:44:19 GMT -5
hey if idiots want to sell at these prices i'm buying!!.......lets get rid of them once and for all.
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Post by jdc1 on Oct 21, 2008 14:01:41 GMT -5
The volume on MMG is amazing. It almost seems there are margin calls taking place, and these folks want to sell all before MMG is decoupled from DRV. I sure don't pretend to understand it. Just happy to buy cheap shares of DRV and get a free share of a new company to boot.
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Post by pasacancha on Oct 21, 2008 15:21:01 GMT -5
It is nearly impossible for DRV to trade much over 40 cents while MMG sitting at 20 cents is attached to the deal and dragging the price down. Whats worse is the people who think they are smart selling DRV a few cents higher to buy MMG, dragging DRV down.
What will be very interesting is the cease trading of MMG this Friday. MMG holders may not receive their DRV shares for another week (?) so DRV could trade with 100% of Peru and half the outstanding shares for a short term. ;D
I also agree with JDC. There could be some margin calls getting hit. Selling stock days before the merger doesn't make sense. But I also believe there are many shareholders who don't have a clue what is going on, don't read the news releases and may not even know about a merger.
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Post by jdc1 on Oct 22, 2008 9:39:12 GMT -5
I know you have better things to do with your day Mr. Pasacancha, but I was wondering if you'd mind giving us (ie: people to cheap to pay for Level II) what the Level II Ask/Bid looks like today for DRV/MMG. Is DRV still looking "tightly held"?
Cheers; jdc
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Post by venturous on Oct 22, 2008 11:26:43 GMT -5
d**n, with the prices of Copper going below $1.9 and silver going below $9.7 it will be quite a few months before we can consider a buyout...
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Post by eyes55 on Oct 22, 2008 12:48:20 GMT -5
with the price taken down this low and nothing but good news coming...i smell a rat!!......what are they going to do, sell us for a buck.
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Post by murph66 on Oct 22, 2008 13:44:16 GMT -5
With George still having a CTO against him (I believe it is still in place) perhaps the only way George is going to be able to get his hands on some cash is to sell, even in this crummy market situation. I hope this is not the case. I don't know how these things work. Hopefully a board can veto such a move as it would not give the shareholders the best deal. What do you think Pasa??
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Post by caveman on Oct 22, 2008 17:17:16 GMT -5
eyes, even if an interested company is buying as many shares as they can, they would still have to buy your shares from you at the proper price after a sale is negotiated. doesn't mean they would get a discount on your shares
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Post by pasacancha on Oct 22, 2008 23:34:37 GMT -5
We have an excellent board of directors who will be making the decisions and I believe they will take things in the right direction Murph. George is also going to be replaced as CEO eventually and then he is planning on having his CTO taken care of.
JDC I am sorry, I'm confined to my laptop for a few days and don't have access to my level II right now.
I agree some large interested parties could be buying very inexpensive shares right now. Remember shareholders approved the Shareholders Rights Plan at the AGM which should protect us in the event of a hostile takeover by another company.
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Post by venturous on Oct 23, 2008 7:15:29 GMT -5
Dont forget, even though 500,000 shares of MMG were purchased almost every day over the last week, this amount of shares only represents $100,000 worth of daily trading at these prices. I have no doubt that a few investors together could come up with $100,000 to invest if properly motivated.
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Post by murph66 on Oct 23, 2008 7:33:19 GMT -5
Thanks Pasa. That reassures me.
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Post by eyes55 on Oct 23, 2008 14:06:41 GMT -5
DRV......0.25??.......this is not good.
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