Don't mean to state the obvious here but I think expectations of a significant price move at the moment are somewhat illogical. End of the day it's a shell, the spike last week is typical of them. A little movement and everyone thinks insiders are loading up due to pending news of a deal. The reality however is more likely that it was simply a snowball of buyers. That snowball melted this week and likely the same ones who drove it up via impatient buys are now making equally impatient sells.
At close of 1.7c its $2.95m MC (174m SOI) with $1.587m at bank and running on the smell of an oily rag until a vend is done. Pat Bourke appointed so perhaps setting up for a deal before too long. Thing is until a deal is done it remains a shell so you either buy and await the value adding event or wait and see what it is and make an informed assessment then. If management pick a winner (which they have before) then post deal the valuation is likely to be significantly higher, that's the play IMO, until then pip traders and T2's are only going to lose $$.
I'm bullish the team to make the right choice by shareholders and happy to await the value adding event.
TTL Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
