Note the buy volume increase in the last 2 days. There are not many sellers, leading to swing lows being "protected" by the high buy volume.
Also note:
Other stocks I have been following and commenting on are: EDR.TO, FR.TO, AXR.TO, SBB.TO
PTM.TO, FVI.TO
All of these are up and some up substantially. With leaders such as FR.TO (First Majestic Silver) leading the pack with a 12% gain.
I regret not getting into FVI.TO as played the last leg up and was planning on entering sometime this week. Even though FVI.TO is a solid play, there is greater political risk via elections in Peru
Why GPR.TO is going to continue up?
Look at the latest update Here below is a summery of the Bought Deal that just went through.
Great Panther Silver Limited Announces $21 Million Bought Deal Financing
Great Panther Silver Limited announced that it has entered into a
bought deal financing with a syndicate of underwriters led by Salman
Partners Inc and including CIBC World Markets Inc, Stonecap Securities
Inc, Dundee Securities Ltd, and Stifel Nicolaus Weisel Canada Inc. The
Company intends to issue 5,000,000 common shares at a price of $4.20 per
common share for gross proceeds to Great Panther of $21 million. The
Offering is expected to close on or about April 12, 2011, and is subject
to regulatory approval. The Company has granted the underwriters an
overallotment option exercisable for a period of 30 days following the
closing of the Offering, to purchase up to an additional 15% of the
number of common shares issued pursuant to the Offering at the Offering
Price. The common shares will be offered in all provinces of Canada,
excluding Quebec, via a short-form prospectus and into the United States
on a private placement basis.And today......
Great Panther Silver Limited Closes $24 Million Bought Deal Financing
Great Panther Silver Limited announced that it has closed the
bought deal financing previously announced on March 24, 2011, with a
syndicate of underwriters led by Salman Partners Inc. and including CIBC
World Markets Inc, Stonecap Securities Inc, Dundee Securities Ltd, and
Stifel Nicolaus Canada Inc., (collectively the Underwriters) fully
exercising the over-allotment option, for gross proceeds of
$24,150,000.
Bought deal was completed at a price of $4.20 per share, and the underwriters had an opportunity to exercise there over-allotment option within 30 days, and they immediately exercised it.
Obviously the price being 3.84 didn't deter the underwriters, and since they were a lot closer to the company that anyone else, a minimum valuation of $4.20 would be expected.
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