Originally posted by prawn_man
RED, you are absolutely correct. My feeling is that during the last week someone with a big holding has pulled the pin. And not only that, today they made sure the market knew it. Possibly having lost a sizable amount on ARL, they have gone out this morning with flare. They sent a message, and hoped that it would be noticed. I must be mad because I sold some shares in one of my better stocks to buy at these low prices. I am depending on the old saying of being greedy when others....Good luck amigo.
Hi guys, I spoke with Ian today and asked him directly about this. He believes it is a heron director who had shares coming out of escrow. Which makes sense to me. A smart trader trying to accumulate would have been more subtle. A case of crap timing given where sector sentiment is at, to have someone dumping like that.
The positive is buyers waited offscreen all day and absorbed it. Clq also bounced. We've hit bottom or very close.
a problem ARL has if you call it that, is that there are strict rules around management buying or selling stock. Ian said there has barely been a day since listing where he has been able to buy or sell on market because of proximity to market sensitive news. I suspect this would explain Bramwell not buying on market yet.
Ian also confirmed they are playing he long game with strategic partners, and that they have been rejecting terms put to them. We talked about the geopolitics playing out, how different cultures have different approaches to business etc. We talked about the strategic approach Japanese companies take, and the level of detail they require compared to the more impulsive deal making of the Chinese. And we talked about the deal he did for heron...
gents, if I had an endless bucket of money I would buy these shares all day. Nudging 350,000 after today.
I personally believe we are in very good hands, that retail investors don't understand this, but that institutional investors will, particularly when a strategic partner comes on board.
all IMHO. Dyor. Get off hot copper, read and talk to people. Above all gltah.
(20min delay)