Had a bit of time to look at the substantial shareholding notice.
Two ways to look at it.
1. Mr Yogi / Mark Iliff knows something the market doesn't. He's not at all worried about cash drain and/or a capital raising, and if there is one he's relaxed. (Incidentally, you would hope that any capital raising gives him a chance of participating rather than have his holding diluted by a placement to the sophisticated (!!) investors of Claremont.) He believes that Norwood will make a major breakthrough in terms of contracts and/or takeover. The stock goes to 5c and his gutsy accumulation will be rewarded.
OR
2. He has been conned into the stock by a Church Street neighbour who cannot be named. He has refused to accept defeat (unlike Mitch Marsh) and has supported the stock on the way down in a spirit of denial. One day he might need cash or just spit the dummy and try to sell 55 million shares. Under this scenario (say averaging 1.8c) he will have slaughtered maybe $800K, but perhaps that is chickenfeed to him and provides a tax loss he can apply elsewhere.
Either way, you have to give Mr Yogi credit for having a dip !!
NOR Price at posting:
2.2¢ Sentiment: Sell Disclosure: Not Held
