IMO, the last share purchase plan has created a price ceiling with $30mil in options executable at $0.118.
Long story short, everytime options are converted to ordinary shares, it pulls the listed share price back down from $0.12. On the upside, the shareprice appears to have stabilised over the past month bouncing between $0.105 and $0.12 instead of $0.08 and $0.12. I expect a slow push through the "ceiling" over the coming month.
I don't know what the conversion numbers are, but it's likely people are converting early to lock in their cost-base (at conversion), to take advantage of the CGT discount available 12months+ from now. Assuming the share price blows up over the next year investors who converted early will take advantage of the 50% CGT discount versus investors that covert at the time of sale, the latter carries no discount and they'll pay tax on 100% of the profit. Unless of course they sell unconverted options...
Anyone else holding NYR?
That's just my 2 cents, DYOR, not financial advice, GLTAH
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Last
6.0¢ |
Change
0.004(7.14%) |
Mkt cap ! $440.9M |
Open | High | Low | Value | Volume |
5.7¢ | 6.3¢ | 5.6¢ | $1.312M | 21.97M |
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No. | Vol. | Price($) |
---|---|---|
7 | 299223 | 6.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
6.1¢ | 450000 | 3 |
View Market Depth
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6 | 296500 | 0.060 |
8 | 899945 | 0.059 |
10 | 1036582 | 0.058 |
11 | 2712529 | 0.057 |
13 | 718589 | 0.056 |
Price($) | Vol. | No. |
---|---|---|
0.061 | 450000 | 3 |
0.062 | 615032 | 6 |
0.063 | 702930 | 9 |
0.064 | 564497 | 6 |
0.065 | 1433916 | 15 |
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