Whilst buyers might be nearly exhausted so too are sellers I think. So yeah they could drive this down further but eventually they’ve got to buy the stock back and banking on sellers turning up at 5c or whatever is a risky strategy.
All the more reason the mgmt need to do what they need to do with nifty and get the Renison story out ASAP. You’ve got to understand 5c is a market cap of A$45m, I see this as highly unlikely - particularly when something like greentech is showing Renison value of >$250m.
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