Consider it this way.
Notable Pioneer who I believe are one of the biggest holders have around 13.4M shares.
I'm not in any way suggesting it is them responsible for the SP manipulation. However let's assume RLT hit the P90 resource of 32BCF worth $8.9Bn.
If Notable Pioneer was the selling then you are talking about $14M of stock to be soaked on a gas find worth $8Bn+
Again I am not putting down BNL but with a P50 estimate of 3BCf, they are up 1100% to $50M market cap.
RLT P50 estimate is 106BCf and market cap $117M.
At some stage a value investor will want to take a position here. It won't take much buying with such low SOI to push this higher.
Ann: Appendix 4D, page-33
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Last
95.0¢ |
Change
0.015(1.60%) |
Mkt cap ! $28.80M | |||
| Open | High | Low | Value | Volume |
| 94.0¢ | 95.0¢ | 92.0¢ | $7.524K | 8.117K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2000 | 86.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 97.0¢ | 70710 | 3 |
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| Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
| RLT (ASX) Chart |