They took a risk in my view...unless they had an idea on timing of results or absolute confidence they could push it around.
The register is relatively small...so shorting an explorer whilst it is drilling seems an uneccessary way to make a few bucks...one good result (and they are always possible) and your losses literally can be total!
Having said that..I assume they have been buying back this week...keeping it tight with the odd sale to knock it back when it gets up.
I can't imagine they would stay short...would be even riskier as the potential for results gets nearer.
They are clearly relying on "flips" from the retailers all over this...but may not have accounted for the amount of net absorbtion of their sales.
Wry smile...
Anyway...I thank them for the opportunity to buy cheaper shares and options than I thought would have been possible at this point in time...and wish them all luck getting those shares back if they are ever caught off-guard and forced to chase stock...that is if they have not bought them all back yet?
Iv'e bought more today...there's something a bit manky in the air regarding current trading...
A bottom?
Cheers!
MNE Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
