I've been watching the course of sales and it looks to me like its still being manipulated to shake weak hands out, particularly at the close of day auction. If you watch the last five minutes of the closing auction and refresh your screen regularly you will see them playing with the depth.
I see there are many crossed trades going through with matching units being traded and i suspect there is a bot loaded to this stock carrying out algorithmic trades.
If the conditions of the JV contract are favourable then i am expecting this to push back up to 0.02 - 0.023 on large volume.
After that its anyones guess (subject to the detail of the agreement)but the bots and traders will be working the depth to their favour and will push it in which ever direction is most profitable for them.
I'm still holding long at this point in time to see what our management can deliver. Should be an announcement by COB Friday so just set your trading account to send you a text message once the AKK announcement hits the ASX so you know whats going on.
JW
AKK Price at posting:
1.4¢ Sentiment: None Disclosure: Held
