[biiwii comment: nice to see a company actually take steps to remove the Casey stink]
Further to yesterday’s post, which speculated that James Dines caused the sudden surge in the price of Aurania Resources’ shares (TSXV:ARU), it turns out that it was the Casey Report. Author E.B. Tucker raised the “buy-up-to-price” for ARU to $15. WTF E.B.?!?! Why would you tell your followers to buy up to that ridiculous level? Unless you think there is imminent news about a major discovery, why not recommend accumulation of stock at current prices and then to buy on dips? You even state in your article that ARU shares are tightly held, with insiders controlling 70% of the stock. That does not seem like a good way to make your subscribers money.
In an interesting twist, Aurania issued a news release on Friday afternoon commenting on the increased market activity and linking it to the Casey Report article. The “company is not aware of undisclosed material information” news releases are useless. It is a breath of fresh air to see a company actually comment with useful information. Well done Aurania!
[biiwii edit] Here is the Aurania release, for your convenience…
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