Thursday, 11 May 2017

Market anomaly May 10th, 2017.

After receiving a few emails and phone calls yesterday after the RZX market precipitation, I am choosing this blog forum to comment.

First, a comment on the RZX market yesterday.  I received an observation from an experienced shareholder relative to the day's trading:

"Today RZX had 26 trades at a VWAP (Volume Weighted Average Price) as  calculated by Bloomberg as $0.1795 per share multiplied by the 412,650 shares traded gives a total traded value of $74,070.67.

The last trade at 14 cents was at 15:52 ( 8 minutes to 4 ) and the closing BID was 16 cents.  It appears to have been a small dollar amount of shares sold in a “thin” stock."

I do realize that the analytics do not always temper the emotion of investors, so I will continue:

There are no material changes that would give reason for the precipitous drop in the stock price yesterday.  I do admit that there is much speculation relative to the various projects in Mexico, and the water division status in Canada.  

Fundamentally, Robix is the same company is was last week.  The projects in Mexico at various stages of development, are moving forward, albeit slower than we all (including myself) had anticipated.  Negotiations with the Navy are ongoing and are being led by the Mexico team.  I have a great level of confidence in the integrity of our team, and the Joint Venture partners working within the Mexico industrial marketplace.

I am preparing a full corporate update to shareholders, upon my return from the Toronto trip early next week.  The anticipated update being prepared will include a discussion of pertinent details of the Mexico projects and the water division in Canada.

In closing, I want to thank the loyal shareholders for your patience as Robix develops from early stage to high-growth.

All the best, until next blog,