"interesting that someone has put in 1M sell at $0.30, presumably to make the buy sell look worse than it is"... lol, there is no buy depth, LIN believers have been battered into submission over the last 12 months and now everybody outside the tent is wondering wtf is happening with this sudden CEO switch... 800k to buy for 1.15B SOI stock is basically no bid. 2 or 3 sellers wiped out 12-to-10.5 and it's gawn!
That doesn;t mean anything in itself except buyers are on strike until they get some explanation as to wtf is going on and why. More's the point, how about getting the Study numbers that would have been floating around the market for months now out in print already. Confidence was lost over the ongoing share price fall beyond simply a RE bear market imo, now shattered today proven by the buy depth and no liquidity...
That doesn;t mean LIN is going to hell in a hand basket, just that the rug has been pulled out from under it. Still a world class deposit imo, the same concern about funding and dilution remains. Multiple ways to avoid killing holders with a too cheap broker CR refill, but again who knows what the plan is and how far away from guidance it is?
The hourly chart shows no sign of rising volumes, panic or new insider bad news... just the
@Gentleman pump (first post white arrow) and then steadily falling dump as more bagholders got filled with 'bargains'. I'm one of them fwiw... bought my first extra LIN shares since pre-MRE on Friday at 12c, so I didn't see more bad news than what I expected coming (CR dilution from capex blowout my guess for a long time). I didn;t sell this morning at 12c and bail either, this is play money and I'm not fussed which ever way the price goes atm.
Studies are usually leaked early far and wide is my premise, based on the fact so many consultants beyond company insiders are aware of how it is panning out that no secret can realistically be kept, and nobody will ever get pinged such is the large number of possible leak sources. I've heard nothing, but then again I'm not in the industry or those circles. All my speculation is just that, we'll find out shortly what the facts are (maybe not the Alister dumping facts though). Whatever disappointment in the study has been long leaked is my point... today;s reaction is all about the CEO dumping and what it means an portends?
LT support at 11c broken this morning but may hold be close of trading. No buyers but the MC for a worl class asset looks cheap. Problem as always for junior developers is how to develop without being cleaned up by the sharks and brokers on the journey... unfortunately great assets can be badly managed and leave early shareholders with little to show for their investment time and risk. Lack of volume before or after today's announcement says to me no material negative news regards Kanga the market wasn;t already expecting, otherwise the selling would have been much, much higher coming into today and those first couple of hours the market stared blankly at each other in tradeless bewilderment...
No need to panic imho, fingers crossed though, GLTAH
(20min delay)