Snakey, your argument is illogical.
There was a clear down trend during the period in which they were reducing, selling pressure.
There has been no down trend, infact a rally, in the recent period, during which they have not reduced.
This rally has been from LNC success IMO.
If they infact have disposed of the 21 million remaining, in the last couple of sessions, we would have seen a pull back in the SP, such as was evident during their first round of selling.
They have also said to want to dispose of them in an orderly manner, which does not equate to a sudden dump of 21 million shares.
This is why they are holding off for the SP to recover, and sell at higher prices, but they have shown they will sell as low as 18c.
We have had a notice every trading day, and as I have said, in the last period, the volume held as not reduced significantly.
I'm sure if you expect these to have been dumped, the chart would have reflected.
Conclusion, next opes update will state 21 mill still held.
And expect them to sell orderly, previous sells were 6 mil, 2 mill, 6 mill.
So, if you want to pay 30c, go ahead, whAT i am saying, it is a clear opportunity, to pick up for 18-20c, IMO.
Maybe it wont go that low, but you take into account some profit taking, which will possibly be a signal for ANZ to get what they can, and they join the selling pressure, and then with people not aware of this mechanism, some panic, and presto 20c.
I agree, it is a long term hold, with good prospects, and wil head north when all this is done, but for now, either pay the 30c, or understand what has happened over the last month, to possibly take advantage of cheaper entry.
cheers
MEE
metex resources limited
