Ann: Change of Director's Interest Notice - A Purcell, page-30

I have been using margin landing since 90's so I know a little bit about it.
40m shares at 8.3c is $3.3m
Pretty much all standard margin lenders (available to the mere mortals) would not give you anything on MAY (big fat zero), it simply too risky for margin lenders.
I am happy to be corrected if you can find MAY being offered as accepted security by St George ML, Commsec ML, Macquarie ML etc.
I think, AP would be very lucky if he got 20% lending on MAY - that means $660k
If he spent $100k out of this credit limit and then he had other expenses (as we all do) then it's pretty much a decent spend. Having such a large holding, he does not need to add to it, unless he thinks it's a steal.
I do think it sends a very healthy signal that he thinks the share price is a joke at the moment.
I, for one, totally agree with this assessment. Let's see in 12 months but I am pretty sure we will not be at 6c or below. 20-30c is very much likely within 12 months.