no one batted an eyelid when the sp ran from 2c to 29c on next to no substantive news, so why is everyone now surprised when the shareprice drops on no negative news (ie no news)
i dont buy JK's comments blaming it on the lawyers being away over xmas. a heads of agreement could be negotiated with the key terms (ie price etc) subject to the formalisation of a more substantive agreement which can be sorted out at a later date.
look at the placements that have been made to sophisticated investors in the past 6 months... 36m at 1.3c 60m at 3.9c 76m at 7.5c
the majority if not all of the 60m shares at 3.9c went to sub 5% holders so no substantial shareholder notice had to be lodged... how many of these shareholders still exist?
the 76m went to Multistock which have sold down over half within a month. only another 0.5% (which has probably already been done and they will cease to be a substantial shareholder and no one will ever know (except the co) when the shares are all gone.
also look at the options being dished out 30m with ex prices between 2.5c and 3.5c to corporate advisors 29m to directors/staff with an ex price of 6.25c 13.5m pursuant to the ESOP exercisable at 3.75c directors have definately looked after themselves
IMO i think its quite obvious everyone has been taken for a ride. mt carbine was the catalyst to enable the sophisticated investors to run the sp up and get out at a nice quick healthy profit. now no news or positive news is coming out and the rest are following the smart money and are selling out.
holders should proceed with caution...
BIG Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
