A few things I find hard to believe about today's trading:
How low the volume was.
That the 9 buy orders for 500,000 each (4.500,000 shares) were not pulled and sat there all day at 19.5 cents.
That not one single buy at 19.5 cents was hit. I note some times when there were no buys or sells at 20,0 cents, i.e., the buy sell gap was 19.5 to 20.5 cents.
That at around 4:09pm, all of the 9 buy orders for 500,000 each (4.500,000 shares) were increased from 19.5 cents to 20.0 cents.
My takeaways.
Somebody genuinely wants to buy 4.5 million shares. This is not a prop or a game. This is a genuine buy.
Nobody wants to sell for less than 20 cents. This appears to include Regal which appears to have sold into any buy strength in recent months. Have Regal stopped selling or just stopped selling under 20 cents.
Unless or until Regal hits the buy orders for 4.5 million shares, anyone wanting to buy shares or top up will have to pay more than 20 cents.
If there is one person wanting to spend $900,000 to buy 4.5 million shares, once word gets out about Hawsons, there will be others. The only major seller in recent months has been Regal, and they had 20 millions shares on 1 March, not sure how many now (looking forward to mid month updated Top 20 next week if management continues their practice of updating that twice per month).
Will the buyer for 4.5 million shares keep upping his bid by 0.5 cents per day like they did today?
Looking forward to seeing what happens next week.
HIO Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)