Patient sellers or someone with an interest in PAN's share price dropping? Which company owns more than 20% of PAN and already has made one failed takeover bid for PAN? With that amount of shares it could be easy to sell as desired (especially if they also have a stack of buys in at the reduced price to replace shares they sold) to suppress the price without making a one per cent change in shareholding disclosure. I suspect that buyers know it is IGO and that if they wait they will have their low bids satisfied- so no need to increase their bids. So it is patient buyers not sellers.
Someone mentioned in here today that before WSA was subject to a take over bid it had over 10% of its shares shorted. Anyone suspect that WSA was targeted by Shorts because they knew IGO was to make that bid and that shorting suited IGO?
But at the end of the day a low bid will not succeed if Shareholders see the revenue and profits increasing. We need the company to have some quick positive news -so I would like the company to resume announcing each individual shipment to keep that news coming .
PAN Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
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