Yep - all CR pro flippers selling from Hartleys and us CommSec amateurs buying it up.
Flipping after MAG made their best announcement- makes total sense, you sophisticated pros (likely same ones that got in at 30c in the last CR).
Pretty much same as on the last big run after Boda discovery- Patersons selling like crazy (at avg. of 13c) and CommSec buying (at avg. of 14c) as the SP ran from 4c to 44c over that period.
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Looks exactly the same this time with the flipping by Hartleys and CommSec buyers taking the shares off their hands, at pretty much the same average price as on the last run (13-14c & 15c).
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These sophisticated investors normally don't know much about the company that they're investing in and base their decision on a 5 minute look at a term sheet and/or presentation on the company.
Who does everyone think are the smarter people in this buying/selling:
1. the sophisticated pros that have a 5min look at what they're investing in and are happy to take their 1-30% profit and move onto the next one
or
2. the many investors with proven track records over the years and knowledge of what they're doing, like:
@Seth Davis
@Silvermarc
@binwood
@TraderGT
and locals/ALK investors like:
@Lureman
@NikolaL
even this
@Green Bull guy has a better record than most sophs!
And obviously everyone else that's on MAG are smart cookies and more cluey than the sophisticated ones, IMO and we'll see how it plays out!
Anyway, whenever the flippers run out, then it's pretty simple what happens as no supply = increase in share price, and then we've got some potentially pretty good results to come out from Rose Hill on top of that and then from the rest of targets/districts to be drilled (Lady Ilse, Boda South, Kingswood, etc).
And we have a bit of money to do it too (almost 10 quarters worth) - so once these current sophisticated flippers are out, we won't be getting any new ones for a while!
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Cheers,
GB.
(20min delay)