not so sure. the amount of shares they acquired is mote than what has been traded since last notice (at a quick glance). So even if all on market purchases were for flipping as you say it would not be enough. certain the 50m odd conversion looks like a bigger holder accepting. likely on the basis of the promise of the acceptance facility announced this morning. Let's see what happens next. certainly the extension by a month indicates that the drilling is going well imo. or at least not badly.
NWE Price at posting:
5.9¢ Sentiment: Buy Disclosure: Held