Looks like the lead manager who got those 10m options that will cost him 9c a share could make himself a profit if his success in raising the funds boosts the share price.
Looks like the folks who supported the placement motivated by a potential quick profit have just about done selling.
Before the market opened there were 11.7m shares being offered for sale in 68 lots.
* 10 were at 500k
* 2 were at 1m
* 18% of the sellers were offering 60% of the shares.
With 3.4m sold at a VWAP of 6c there were, when I just checked, 9.8m shares being offered in 59 lots
* 2 @ 350k
* 3 @ 500k
* 1 @1m
* 10% of the sellers offering 33% of the shares.
Which in less than an hours trading means the big selling pressure holding the price down is about to disappear.
Won't what happens next be interesting to watch given the appetite for buying that has emerged with money in the bank to drill the deeps and the gold and copper prices strengthening.
FOMO should kick in when the price starts to rise.
