While shares traded as high as $0.675 on Thursday December 9th, the closing price slumped below even the open. Traders slobbered all over the micro-cap gold explorer following the release of the highly anticipated NI 43-101 report.
But even with abnormal volume activity, shares couldn’t help but skid intraday.
With the technical report now out to the public, is there anything to look forward to in the next few weeks, months, or maybe even years?
A person familiar with the industry in the Ukraine explained that the mountainous south-western region is largely protected by environmental councils and government. Chances of attaining the permits necessary to mine the region are slim to none.
Another source informed us of an entity that attempted to mine gold in areas surrounding Vynohradiv in the mid-1900’s only to file for bankruptcy some decades later. We’ll have more on this topic in a later report on our dig into Supatcha Resources Inc. (SAEI).
And while another dozen questions still remain unanswered, our greatest concern lies in that management continues to lurk in shadowy avoidance.
Our last piece criticized Supatcha’s lack of transparency. Apparently, someone up in management heard us and finally decided to find a henchman willing to sit beside a phone all day and answer nonsensical questions.
Supatcha’s IR was unable to arrange an interview between any of our Editors, including a reporter in the Ukraine, and any member of management, citing “they’re on the field” as the reason.
No surprise.
We’re confident this twisted tale will begin to unravel soon enough. Until then, we’re off to do more digging into Supatcha Resources Inc. (Pinksheets: SAEI).