The idea is to take advantage of the low MC as at some stage the trial results will be reflected in the sp. The unique situation here is the EV is about $20m compared to IMUs $700m but when considering the platforms and results CHM is a lot more worth than just 1/35 of IMU.
It seems for weeks we have a daily 500k-1m seller. Either just coincidence or a large seller off-loading at a huge loss. If retail is selling then it should stop soon as there aren't that many held by them, maybe max 100m. I have absorbed a combined 10 million plus, you guys may hold similar amounts combined too. But if a big guy is off-loading then it could go on for a lot longer and lower.
Will try to get as many $ as possible organised and see where the sp has settled by then. If not enough funds available then I will try an approach like 50m at 7c, then gradually increasing step by step to 10c.
I could easily take out up to 10c tomorrow and hold there for a while depending on how many would sell into. But if a big guy dumps 20m shares into it and it drops back to 7c then it would be a costly exercise.
Should you see the line wipes you'll know its me.
GLTA
CHM Price at posting:
6.7¢ Sentiment: Buy Disclosure: Held
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