I spoke with Act's IR today and have had a number of questions answered. The main 1 was whether or not the final submission has been delivered to MSHA and it has. Also the person in charge of Approvals for Act is certain they will have approvals from MSHA by end of qtr 3. I think these go along way in allaying fears and nervousness over the falling sp.
1 of the reasons we've lost so much sp is a fund has left and dumped about 10 million shares over the past 2 or 3 months. This could be the anon who's been selling large blocks. The others involved are still on board and believe MSHA approval with help to reach the target prices set out earlier.
The other reason, as we all know is the tanking of the markets, but we have no control over that.
China is still a medium to long term situation and summer will be over soon and the bigger guns can climb back on board and shore up the sp
Hopefully with some of these problems out of the way, we can begin to see a strengthening in Act's sp over the next little while.