Several chunky bids have appeared at 1.4c/1.5c But they are...

Several chunky bids have appeared at 1.4c/1.5c

But they are waiting for the sellers to come to them (so far), not interested in grabbing what's been on offer at 1.6 to 1.9 unlike a couple of times earlier this month when a handful of buyers did just that. Not much for sale under 3.5c actually (on the ASX, dunno about Chi-X)

Maybe they are aware of a large seller (or sellers ) lurking or they believe they have time on their side before things hot up

The last quarterly reported that they were seeking out and assessing "potential acquisition opportunities" and recent buying by directors at 1.3c suggests that they are making progress but have nothing stitched up yet

The market cap at 1.5c is just over $3 million and they should have around $900k cash assuming that the $206k R&D refund which they expected to receive in the March quarter has been banked

I have taken a small stake and like others, am watching for smoke signals, hence my interest in the onscreen buying depth

Cheers