Ann: Golden Swan Drilling and DHEM Update, page-216

Regal would NOT be using Argo or Pattersons both Perth based brokers as they are Sydney CBD based.
They could be using TP or Nomura who have branches in Sydney CBD.

Regal own 90M shares so a large load
We saw on WA day public holiday the sellers were absent and Sydney buyers active
so this means that MD is on east coast not in WA & likely Sydney based and may well be Regal using TP likely.

You dont accumulate 90M shares cheaply easily without a lot of daily action over a month bc if you bought those in a few days the SP would skyrocket to 24c. So accumulation strategies encouraging looser traders & Citi to give it up cheap would fit this strategy.

Likely Regal are nearing 5% so may have to disclose or use other brokers or corporate trustee covers to avoid disclosure rules but why bother as isnt 140M shares bought cheap under 10c a massive bargain already. Buying more at 18c say would simply increase the value of the block bought sub10c and justify the accumulation already made.

This is the justification trade, which is coming soon.

ST traders dont really understand whats going on but even they are starting to realise since their loosing sales at 7.2 8.4 9.3 are underwater already & they will fully realise if POS goes past 18c-28c-36c.

Its easy to buy off panzies who look for a quick buck & cant read or do basic maths.

The maths dont lie.