I was thinking that myself duds. I imagine they will largely be looking to de-risk themselves into some free carry to hold through spud results, and it looks like they're not interested (at this stage anyway) at letting go under 4c.
Makes sense. If they can average out at say between 8-20% margin on the 3.7, then that might be the amount they hold thru flow rate outcomes.
Interesting there's been no volume in London so far, so for some reason they haven't started cleaning up that bigger volume yet. Might be looking for slightly bigger returns than the ASX float?
I do expect some movement very soon over there, perhaps tonight. They don't have forever and it's a big number to trade thru without price destruction.
I'm sure the MM's will help
ASX Today, page-5773
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Last
0.3¢ |
Change
0.001(25.0%) |
Mkt cap ! $72.33M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.3¢ | $634 | 213.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 150 | 166689125 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 601425897 | 251 |
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| Last trade - 10.00am 11/10/2024 (20 minute delay) ? |
| 88E (ASX) Chart |