I agree with your comment "very strange. cash at hand alone is worth more than 11c. it is like selling 15c note for 11c. who would in their right mind do that?"
Who would do that?
I had a look at all the shares bought since late Feb and there were over 45 million purchased for 10 cents or less but 32 million of those were bought by CFE and cancelled, so that leaves about 13 Million shares that someone could be taking a quick profit on.
26 Million were traded yesterday so that means that at least 13 million were not in that recently purchased group of shares but could have been purchased years ago and someone is taking a profit now.
Or maybe it's just some holders desperate for cash so they are getting out.
Whatever the reason I do agree that 11 cents is far too cheap.
Lets see what today brings.
CFE Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
