u might be right be ortstock but personally i dont agree. i think pure and simple BEL believed like the rest of us that meo sp would rally substantially with volume during spudding of heron. they are now in a position they dont want to be. they are not forced sellers , they are a fund. they obviously dont want to be holding 15-20 million shares in case heron is a dud. the dumb part about BEL dumping now is that it was obvious about 6 weeks ago that the sp was not likely to rally during spud. they could have sold their holdings above 22cents slowly but surely and been all out by now. they have left it too late now and are dumping madly into the bid every time the sp looks to move. i reckon they sold about 3 million today and have about 10-12 million left. all those 400k bids on the offer imo are theirs. meo will hit gas that i am 100% certain and their remainding shares will be gobbled up during the next rally but until they have gone the sp aint going anywhere.
cheers
MEO Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
