Well done Hopeful2031, General44, theDoors and theGuzzi in documenting this activity. It's absolutely blatant market manipulation - almost a carbon copy of the leading common law case (DPP vs JM 2013, link below) on what constitutes an artificial price. In essence the CEO of an ASX listed company was buying shares at market close to ensure that the closing price never fell below 33 cents (whereby additional $700k collateral on options would be payable to the option holders).
This is just deliberate suppression of the price, and again after Wednesday (and yesterday's) closes they are getting desperate. You can tell because they showed their hand. Just wait until first gold is poured, and Kingsgate appears on the radar of cashed up Australian fund managers on the search for returns. Then we will get the volumes that Cowbell and Bayhunter are after!
Well done Hopeful2031, General44, theDoors and theGuzzi in...
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Last
$1.62 |
Change
0.020(1.25%) |
Mkt cap ! $417.5M | |||
| Open | High | Low | Value | Volume |
| $1.61 | $1.66 | $1.59 | $939.6K | 581.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 7553 | $1.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.62 | 5378 | 2 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| KCN (ASX) Chart |