Guys all of this talk of granite benchtops aside, are we...

Guys all of this talk of granite benchtops aside, are we forgetting that CDV just held a placement for 6,416,670 shares at 12c?

Yesterday's total volume on ASX was 1,080,172 and given we closed down, lets assume for this exercise that 70% of the days volume were sale trades (feel free to chip in the VWAP anyone who has access to it). On that assumption that makes 756120 units sold between 21c and 20c.
Now lets assume that 50% of yesterdays sales were from "institutional and sophisticated investors" that purchased through the placement - so on this basis 378060 units were sold through at a 70.83% return from an initial investment of 12c on the 27th April to yesterday (or 9 working days) for an estimated profit of $32,135.10.

Taking these guestimated assumptions - that also means that a huge 5.8% of the placement shares were offloaded to lock in some profit. Hardly seems concerning.

And yes, this is based on assumptions simply for illustrative purposes, and my coffee is just starting to kick in so forgive the numbers if they are wrong.

That said and put aside, we also have seen the strongest rally in CDV's history over the last 2 weeks, and retraced from the newest of new 52 week highs of 24c, down to 20c - on relatively low volume, and following one of the weaker drill results from CDV. As a CDV holder and accumulator for just over 2 years, I have seen the HC forums explode with new faces very recently which probably means we have some trapped bulls that bought in above 20c expecting the stellar (yet unsustainable) run we have had to continue into the next 2-4 weeks.

A string of news flow of the pending 7 drill holes, subsequent holes to follow, and geophysics should all influence the SP accordingly in the short term but don't set expectations of 30c or 50c before the end of May, or June. If it happens, be grateful, not disappointed if it doesn't.

All IMO, GLTAH, AWFK, ROFLOL and GFYS