Surely by that time ANZ would have realised through its sales the value of its debts owed by Opes and would have handed the remaining stock to the Administrator of Opes.
This would be positive as i would imagine the Administrator would be more inclined to sell at market to the highest bidder, whereas ANZ is prepared to let them all go at a firesale price. ANZ wont suffer if the shares are sold on the cheap. All ANZ is concered about is getting their debt satisfied. The administrator on the other hand is acting in the creditor's best interests and should hold out for a higher price.
I can't see the Administrator selling to GF at the ridiculous levels that ANZ did. Any large block sold to GF should attract a premium to account for the inherent value to GF of purchasing such a large bulk of shares off market.
JT hasn't abandoned us. The injuction may simply be a delaying tactic to ensure that his share are sold on market for true value and not to GF at firesale prices. Imagine how the price of CQT would have reacted if it was appearent that GF was accumalating on market.
I would love to beleive that anyone selling now is a fool, but i can't help but think that the alleged bots will be working overtime to ensure any new shares released realted to Opes hit the market at a greatly suppressed price (for the sole reason to assist accumalation of a large parcel by GF).
CQT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
