cheaper than spp, page-9

Hi Sabine,
I was wondering about the sp post this CR as well, thinking of what happened late last year.
I topped up at 32c last December when the sp fell post the last CR, also not believing my luck.

Reported short sales from the ASX this morning show only 6962 BRB shares as being shorted. Gross loaned shares are 2,357,728 and net loaned shares are 597,000.

As for your question ...
Getting your hands on a large amount of BRB shares is difficult without pushing the price higher but, in a CR where the sp is set (in this case 70c) you could bid for a large number of shares without lighting up the sp. I guess if you were then keen to push the sp down you could unload these for a temporary loss and get refilled at lower prices before news arrived. That would be a little risky imo as the expected news flow between now and the end of the year would seem to be promising and constant. If this was somebody's plan, you'd expect it to happen sooner rather than later. The closer we get to December, the more important each ann will be and the more it could move the market. You wouldn't want to be caught without a seat when the music stops!

Your comment:
' ... shareholder driving the price lower to deprive it's own business of working capital?'
My response:
Someone with such a plan is not concerned with anything but their own ends - that being to get more shares for a lower price and sell into the good news expected and maximise profits.
BRB is certainly not without sufficient funds now to continue their work even if nobody applies in the SPP and that is only for $1.5m. I'm sure that will be raised from existing holders (unless we can buy on market at 65c).

The falling or weaker sp was probably not helped by the CR but also may be affected by market sentiment surrounding uncertainty in the world atm and the looming October period (not always a good time in world markets - several historical crashes have occurred around this time. Surely he DOW can't keep going the way it has over the last few years).

So I guess we need to keep an eye of the bid strength.
Anyway, all just imo.
Perdy