Running discussion on SP, page-15811

How did you calculate that?

They have 186m with a strike price of 10c. That's $18.6m to convert.

I agree it's hard to accumulate on market but not because of volume. They could easily get 186m shares for less than a 10c average IMO. The reason it is hard is because they have to lodge change in sub holder notice when they move more than 1% of register (c. 25m shares) which would bring in speculators and ruin their game.