Putting a sell out on a company with a 15 million $ market cap 1 week before 20% of its float comes free trading and during a liquidity crunch seems like Cook's brain cramped up when he wrote it.
He was in at 35 cents and since his sell recommendation, the stock has traded 1.1 million shares between 22 and 30 cents. Since his requiste is to sell or buy after he makes his call, he lost money on this one and managed to knock 35% of the 'value' out of this company literally overnight.
ATC mc is $365 miliion.
"The company only has about $1.9 million, and will undoubtedly be raising money shortly. The current share structure consists of 34 million outstanding and 39.6 million fully diluted. At $0.59, the market capitalization is $20 million ($23.4 million fully diluted). WLV is a relatively inexpensive Yukon play with solid projects and management.
As goes Atac Resources (ATC.TSX-V) and Kaminak Gold (KAM.TSX-V) so will go the share prices of the dozens of junior companies working the Yukon this summer. Both companies have very substantial drill programs planned for the summer, and both need to show good gold continuity at sufficient grade to offset the high costs of mining in the Yukon. A few good drill holes won’t do it-- the market will be (or should be) looking for resource definition and an economic ore deposit."