Only one recognised transaction up so far today, 1326 shares at the the opening bell. The rest, I would assume traders trying to sell a bit to accumulate more. I hope many guys from holder ends see through this and just hold on until TOP hits the hammer.
What I truly wish for is the TOP turn up and feel sorry for our little minions and say 'take over bid ends' and whatever shares from 1st of March onward that RG acquired to be put on sale via ASIC. By then, RG still had to put the bid protection at 84 cents for 2 more weeks and depart.
He can't come back in minimum of 6 months to 12 months and that gives us all the time we need to buy more shares. Due to lack of shares remaining, either the price will improve (hopefully) or big holders will suck in the remainder shares that float on the market. That way, for sure RG had no choice but to enter 2nd negotiation bid and pretty much the price will rise. How much it rise by, I would say even now or till September or even later, it is only up to big holders like Manipur and User123 and other key players to decide.
By the look at the buyer support, excluding RG's volumes, we can clearly tell that even all sellers volume on the market right now, couldn't take down 84.5 cents. I don't see how price is going to drop. We are just waiting for the hammer to hear victorious news.
PGH Price at posting:
84.8¢ Sentiment: Hold Disclosure: Held
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