NC1

15.0%

11.5¢ nico resources limited

Suspect he just paid the net loss to solidify tax...

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morganman

1,251 Posts.

131

06/07/22

13:31

Post #: 62400179
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Originally posted by aronoff1: ↑

Pretty nasty price action this morning after the director's unethical behaviour exposed. Certainly killed off the nice little rally that had just begun.

We all thought he was buying up half the company and turns out he was in reality day trading trying to make a quick buck! And pretty unsuccessful day trading at that. Ok he ‘net bought’ along the way but that’s not an excuse that justifies anything. And if he’s a hopeless day trader then why did he even do it? Trying to prop the price up? Drive it down to buy back cheaper? Create churn? Or the illegal ‘wash trade’ alluded to in the previous post?

Whatever the case he hasn’t done his shareholders any favours. Who wants to be in a stock with a dodgy director who basically lied to his shareholders and then springs nasty surprises like this one?

It also calls into question all the previous disclosures. Was he day trading along the way then too?

There has been blatant price manipulation in this stock on a daily basis. Price has been constantly pushed around this way and that by large fake orders in the depth that move the price then suddenly get pulled, hidden orders, bots jumping around.

Yes it’s standard practice but now that we know the director was possibly both the buyer AND the seller at any given time, and furthermore is not averse to indulging in illegal practices within his own stock, it raises the question … was he the one trying to manipulate the market to run the price up or down to suit himself?

I have personally given back heaps holding this stock through these last few nightmare weeks. It has been the only sizeable holding I've held onto and I’ve suffered a massive drawdown (in the multiple $10,000’s). The reason I continued to hold was because of the director supposedly continuing to ‘buy’. Now it turns out that many times I myself bought, I was likely buying from the director who was SELLING … while pretending to us all he was doing nothing but accumulating! Had I known the truth back then I would have ditched and saved myself a whole lot of money and aggravation.

It's a betrayal of his shareholders to indulge in this sort of behaviour for whatever selfish motives

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Suspect he just paid the net loss to solidify tax benefits/implications available to him in that financial year - hence the net increase in position, despite the cost.

NC1 Price at posting: 77.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 11.5¢		Change 0.015(15.0%)		Mkt cap ! $12.58M

Open	High	Low	Value	Volume
11.5¢	11.5¢	11.0¢	$7.809K	67.92K

Buyers (Bids)

No.	Vol.	Price($)
1	4422	11.0¢

Sellers (Offers)

Price($)	Vol.	No.
11.5¢	19999	1

View Market Depth

No.	Vol.	Price($)
1	4422	0.110
3	128213	0.100
1	14000	0.099
1	10000	0.098
1	104052	0.096

Price($)	Vol.	No.
0.115	19999	1
0.120	1800	1
0.125	31085	1
0.130	35501	2
0.145	34551	1

Last trade - 16.10pm 01/11/2024 (20 minute delay)

NC1 (ASX) Chart

Suspect he just paid the net loss to solidify tax...

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Suspect he just paid the net loss to solidify tax...

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