Yes well I don't think much of the bidding is being done by HC members/watchers. Indeed I suspect most of the bidding is cosmetic/dummy done by agenda driven market maker.
How about this though. If they can get hold of 75% or better of the company they could empty it out and take it over for almost nothing via a Scheme of Arrangement.
Why? Well this would probably be the cleanest and safest method of sunsetting the CVI saga.
If they can add the 980M new shares to others they have not sold yet, it could be done.
Another thing to remember too, is that ASX fees on share turnover are charged assuming a 20c SP. In other words they are copping ever increasing fees - big ones - on new shares that are making less money.
S
CVI Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
