10/2019 - margin loan on 1M shares at around $3 with 63%LVR, equated to a loan of about $1.9 million 03/2020 - margin loan on 2.5M shares at around $1.4 with 63%LVR, equated to a loan of about $2.2 million
After a few margin calls in the COVID well, he has 4M shares in the loan, so even if you assume no repayments have been made against those loans, the price would need to approach $1.6 for the net LVR on those loans even fall back to the initial 63%LVR.
But Norgard's share movements aren't that interesting, since they were forced by the WA Family Court, not of his own volition.
The interesting part, is that Timmy O'Tool, a supposed 'financial analyst', doesn't know what a margin call is.
NEA Price at posting:
$2.60 Sentiment: Buy Disclosure: Held
