Pure speculation on my part but poor old Shaws, stuck with the underwriting shortfall at 15c, I'm guessing a big boy or two manipulated the price down to around 10c, possibly forcing them to quit it at a loss.
If it was or wasn't Regal behind it, didn't they do a similar thing to distressed Pure Metals Carpenteria parcel of ~91 million shares they ended up with at ~4.6 cents, or maybe they gave Pure a financial haircut too?
We forget that was one of Bryan's growing list of pivotal moves, vital in securing near full project ownership and clearing another roadblock on the way forward to maximising shareholder value.
Lovem or hate them, Regal has made a killing out of Hio with ~100% returns more than once, tens of millions in profits, you've got to respect that... even if it's like watching a bald eagle swoop on, play with then eviscerate a mouse while still alive, hopefully it's victims gave a 2 finger salute before being devoured by the profit hungry beast.
I'm just happy my stack hasn't ended up in Regals talons.
HIO Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
