Sorry to break the little positiveness you observed mate, but unfortunately that's one sell of 3.2mil into many small buyers @1.5c. There were trickles of small sells into 1.5c support in the past couple of days, and today someone had enough and exited. I won't be surprised if 1.5c support breaks soon and we are headed lower.
The last largest buy was 2.5mil on Monday @1.6c...I suspected that might be Wilsons, but that was retail buyer using the ANZ platform/CMC broker.
I suspect Wilsons wants to stay below 5% because of the compliance reasons, else why stop just shy of the 5% mark.
And, here is the broker data since the release of last quarterly.
Volume profile is low, but that's to do with lack of demand/supply based on how the order book is moving.
Like you all, I am incredibly frustrated by the lack of "care" towards shareholders. The mgmt might have the reasons on why they are staying silent, but they are doing more harm by staying silent than explaining why last Q revenues were significantly down and what the forward guidance is. I have contacted the company and strongly expressed my concerns and shared suggestions, but nothing came out so far. For example, look at IOU how they were able to provide a quarterly update on what's going on; it's not unusual to provide an operations update to keep shareholders in-loop when there are no significant news updates.
I am holding my full lot, looking for the turnaround, as I know this will run fast when it reverses and based on the past action you got to be in it before it turns if you are looking to have a decent position. I can only understand how those sophs who took placement at 1.9c four months feel based on the promise of "key near term growth catalysts"...I'm sure they sold their lots holding the free options, but if mgmt continues behaving the way they are now, it would not be easy to raise capital in the future.
