I like the way the pressure is building, now at 48 cents.
I saw a single buy order of a million shares go through today at that level - possibly more than once. Half a million dollars - solid buying.
Someone sees great value at 48 cents.
Either it's IGO / Tianqi accumulating at a discount to their offer, or it's another player. If the latter, they aren't buying for a 5% return over 6 months that's for sure.
Over 10% of shares on issue traded over the last couple of days. Let's see if we get a substantial shareholder notice soon. I believe they have 2 business days to declare if over 5%, however may be able to hide it a little bit for a while depending who they buy through etc. We may see something late this week or early next week perhaps.
Interesting times.
Ann: IGO: Lithium Joint Venture to Acquire Essential Metals Limit, page-194
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