As the merger between MXX and CUO requires an 80% acceptance from shareholders, is it possible, given the tangled web of directors and major shareholders that:-
An organised sell down is in place to weed out all parties that would probably vote against the merger?
After all if shareholders arn't happy with the merger they will probably sell now and not be there to vote against it. The shares they sell could now be in the hands of those more likely to vote yes.
It would not be hard to get an institution such as Maccas to force the SP down while they accumulate. I saw this done when Hardman Resources was about to be taken over.
There is no other reasonable explanation for the SP falling other than manipulation. Yes the markets are shaky, yes many shareholders arn't too happy with the merger, but with resources going up so strongly, who would want to sell their CUO at less than half what they were before the market correction.
I have been steadily buying and averaging down. I am happy to wait till the merger is either ratified or rejected. Either way the SP will fly then.
Angers
CUO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
