You and 8 others Quanta. There were 9 small bids that crossed...

You and 8 others Quanta. There were 9 small bids that crossed against the 185k units sold.

I'm not liking the way BMT is trading the last couple of days. There is definately games being played - the buyer sweeps the book on light volume ticking the stock up and attempting to make it look good. This is not genuine accumulation. That's not to say that I'm not bullish - i have been buying more, but the price action is certainly not bullish yet. Given that BMT is so illiquid at the moment, you would have to think that size buyers will wait til the 3B comes out to mop up loose stock from placement flippers. Those who were lucky enough to get a placement allocation, may well add to their position on 3B day. How it trades when this stock comes out will be key. There is very little traffic on BMT threads vs the other cobalt specs, I think we just need to be patient.

Warwick Grigor's words - "the market capitalisation of BMT doesn’t really carry any premium at present. The deal is structured sensibly so the upfront entry is not expensive. It is result driven. It is a speculative seat at the cobalt party that will generate more interest as more information is made available."

Meanwhile, Cobalt was +6.02% on the LME last night.

And fresh news that Glencore has upped their stake in Katanga - http://finance.yahoo.com/news/glencore-agrees-960-million-copper-174330318.html