MMW PAN

re: Ann: MMW: PAN: Anglo Pacific Accepts into... Hi...

  1. stlamc
    1,378 Posts.
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    03/05/12
    02:49
    Post #: 10124444
    re: Ann: MMW: PAN: Anglo Pacific Accepts into... Hi Zekane:

    You're right. I didn't notice the volume spike (2.36 million shares -- usually closer to 400k recently). A few big trades throughout the day (500k, 300k, 250k, etc).

    Likely related to the announcement of Anglo-Pacific's acceptance of PAN's buyout offer for MMW. That announcement was released around noon ASX time (maybe a bit earlier). PAN's price stayed within a narrow range throughout the day.

    Still more seller volume (460k shares) vs buyer volume (250K shares), though sellers are further up the price list. Definitely much less lopsided buy-sell numbers than over the past few weeks.
    PAN Price at posting: $1.08 Sentiment: LT Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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