definitely not retail behind the high volume in the ADR last week, but there would have been a few traders and retailers that jumped on as the price and volume went up.
I do remember hearing a couple of years ago about a private US family fund based out of upper east coast wanting to put big money in before the big raise based on the expanded BFS. The sp went for a run from around A$0.45 to A$0.70 and the deal was never done. it has to be someone who only wants a US held and dollar holding either due to a mandate or to stay hidden behind custodian/s.
time will tell. but the very real scenario facing PNL remains the same, it's either dirt cheap or going out the back door....
PNL Price at posting:
4.7¢ Sentiment: Hold Disclosure: Held
