longline - Bot trading is only used for two reasons and it is pretty obvious what is going on here. The last time I said this I got dumped and then a week or two later the PALA announcement came out. I have no doubt whatsoever this share price is being capped.
Your issue though is why there aren't sufficient buyers to overcome this action. I think there are a number of reasons for that. The first is that people are generally still scared from the GFC and are mainly sticking to short term plays. IGR is not a short term play and anyone who is here for a quick profit has bet on the wrong horse.
I also think there are a number of people who don't think that the timing is right just now. I think there are potential big buyers wanting to get into IGR who are holding off waiting for news on the SPP. If the SP doesn't run (and it hasn't yet) then this is a pretty good strategy.
IMHO this will move fairly rapidly a couple of months after the project finances are announced and the SPP is over.
IGR Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
