Same happened leading up to 16c, then institutional at .8c, (big % discount) which was actioned before holder offer that ended up below issue price, due to institutional selling off having been issued first.
Holders were only offered pro rata crumbs of crumbs and stitched up by institutional sell off.
There has to be only about $1m in the bank right now, based on established outgoings.
The risk IMO is the shares on issue are about to at least double, price is getting pumped to facilitate it.
On the other hand it could be a T/O, could be Telco deals ensuring big revenue increase.
But its lotto, the buying may continue due the sieve that NOR has proven to be, with regards to insider trading.
Else it could be a game of he who gets out first doesn't get trapped below buy price and wins.
If they still need to do a CR, there is little time left.
It could be a CR on the back of the institutional being privy to info we don't have, to make the deal attractive.
I don't like the fact time and time again insiders always seem to act on things we haven't been told.
Price BTW is still no where near where I got out, before it dropped big.
If I was in NOR the last couple of days I would be out today. But this is not advise to others
Its anyone's guess, apart from those that started the frenzied buying off.
I feel any T/O on the cards would have been better served by keeping the price low, while there is little revenue to speak of compared to outgoings, and while there is a seeming need for a third CR in little over a year.
Insane profits can be had or insane losses.
Any big positive announcement now needs to be looked at by the ACCC,
up 80% in 2 days with nothing changed, next to no revenue compared to big outgoings and a CR imminent .
This sort of stuff is why Sanders and Trump are popular in the USA election race.
Regards Mark H
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