big sell order, page-9

My guess is that the new 600K (or so) bid at 9.5c would be a convertible notes holder wanting to convert stocks back into cash, to get some of that bank guarantee action.

If they got 600,000 shares at 9.5c, and manage to sell it back again at cost price, they still have 300,000 shares they can buy back at 9.5c within the next one and a third years i.e. the 1 for 2 options that came with the notes.

So, whilst they might not make the enormous bucks that would come with a SP resurgence, they still have big gains available if & when it realises its potential (if it doesn't take too long). Of course, if the SP dips again they could also pick up more for a cheaper price, so not too much to lose. It helps having the options (although for me it's an all or nothing play at this stage).

Cheers.