2020 BRN Discussion, page-9868

I read in the Finance News this morning at 8.55 am that there had been a late tech sell off in the USA and that the ASX was expected to open down.
https://finnewsnetwork.us1.list-manage.com/track/click?u=4e327af0b9377422183e60879&id=50b17d204d&e=997b7683a8
I read the HC posts and had a look at CommSec and decided it was going to be a crazy day with BRN doing all sorts of illogical trading up down sideways no idea.

After wandering around an antique shop at Yass I checked CommSec and saw they had been a roller coaster ride to 97 cents.

I arrived back at my country retreat and read on HC posts from names I had never heard before on the BRN threads that were a version of “we will all be ruined said Hanrahan”. For young people this is a line from a poem we older Aussies had to learn in school.

I then went onto CommSec and too my absolute surprise because I believe everything these “Lone Ranger” posters tell me that the following had taken place:

1. No announcement had been made by the company,
2. 366,244,129 shares had been traded about one fifth of the share capital,
3. The value of the traded shares was a staggering $291,781,072.90,
4. The closing price was 75 cents which was up two cents or 2.74% on yesterday which means I have made a profit at close of trade. (How could I be up after what I was told this morning and what the Lone Rangers had said.)

I have no idea who could spend the above amount of money but some whose experienced opinions on this thread I trust have suggested that this may be down to accumulation by some sort of sophisticated investors.

What I believe is if you are a genuine retail investor you should take heart from the fact that this occurred all without an announcement and that there are two significant events in the wings which will promote shareholder value:

1. The commencement of trading by Indexed Funds, and
2. The advice that validation testing has been completed and chips on boards are in the hands of early access customers and proof of concept clients.

My opinion only DYOR.