I have a distinct feeling that Old
Peak and APAC are fully aware of the price action since probably mid March.
A big push up when technically it showed it was overbought, then since April 20th, this massive churn of the register in order to flog a few piddly shares?
Even when tin futures had the biggest daily rise for over a month, the share price reaction was lukewarm, so clearly it has disassociated itself from the tin prices, or any index rises of late.
You wouldn't be blamed for thinking that Old Peak will likely sell off to make way for APAC to buy shares cheaply , then mount a takeover, or set the way for another entity, likely Chinese controlled, to formalise a buyout.
At 30c, with close or equal to 50% cash at bank, plus this quarter's tin output, it will be a massive bargain, to the benefit of only a few it appears.
Management could have called a halt to slow or reverse this drop away of the SP, but have done nothing. Not even any announcements that the SP drop has been acknowledged.
Who are they answering to, or for?
Have they ignored the volumes traded of late?
Did they not receive notice of something that appears untoward with the trading behaviours since the start of August?
Are they COMPLETELY unaware of what has been happening to the SP and the amount of churn in the register at all?
This reeks of either incompetence, or corruption.
If this doesn't end as favourably for the retail shareholders, with clarity of WHY this trading behaviour ensued for months ( with little rise in short selling by the way) , and instead favours a major shareholder only , let's just say that some will be required to pay their dues, or perhaps the might pay dearly elsewhere along the track...
(20min delay)