Yes it does look like a tiddler dumping with another tiddler...

Yes it does look like a tiddler dumping with another tiddler offering at 5.8c. These trades are quite meaningless however what I keep trying to discover is why no serious money is buying. While it's obvious why existing shareholders are not in the market I'm at a loss to understand why some of the larger punters are not buying cum rights. In spite of the windfall that amounts to well over $100,000,000.00 in total on completion of the deal the sp took a dive. What logic can be applied to explain the reluctance of informed investors to take a position?