I would disagree, I sincerely doubt any instos or funds are buying IHL atm. Instos need to see daily market turnover and mkt cap above a decent threshold before it even makes their analyst watchlists.
I work in the banking sector and a minimum requirement of $500k per day in turnover and a mkt cap of $100mn are absolute minimums across most markets among my insto clients.
This is actually good news for holders though as when instos do arrive on the register they will be doing so at a much higher valuation than today's which will help with share price support when we are in double figures with the SP.
I would argue that current market action is from the retail end of town although many of them do seem to have either very deep pockets or indeed a well stuffed self managed super fund.
I am on holiday atm and am writing this message from the Black Sea coast near Odessa, it certainly makes my holiday more enjoyable to see people queuing up to buy the OBs at 3.4c which is almost 7 times what I paid especially as things have only just started moving for IHL.
EB
IHL Price at posting:
6.4¢ Sentiment: Buy Disclosure: Held
