yeah they were selling to secure the lowest possible VWAP discount on that 40m shares conversion
I think they have a plan to sell a portion (majority probably) of the converted shares, but now having secured 1.5c price for such a large parcel, they'd be looking to sell higher and maybe yield free carry in still a substantial qty of shares.
so I think (opinion only), that sp is headed north from here upon catalysts of:
- their selling stopping
- progressing the negotiation of equipment sale and collection of funds
- progress towards collection of monies from DR govt
but 100% agreeance with sweetsound, it'll have to be actual commercial progress to move the sp
yeah they were selling to secure the lowest possible VWAP...
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