complete turn around

Hi guys.

I did some analysis last night of daily volume, and trying to link that to other observations I have made.

I took the daily volume since the big drop on 13/7, which is when the announcement of the capital raising caught us all by surprise. That day the volume spiked at 28m shares, with 15m traded the following 2 days.

Looking at the raw data, and as with any statistical data you need to take out the data that is extreme (so that it does not skew the mean)to help give you a feeling for the average.

Basically, for 4 months since the announcement of the raising, the daily volume averages just over 2m shares traded per day.

Now as Joewolf pointed out in an earlier post a few weeks ago, a SPP combined with an offer to sophisticated large investors can create a share price vacuum, where all the immediate demand for the stock has been met. Hence in the absence of price moving new information, the price will drift. After all, where does the new buying come from?

The last few days, we have seen volume in excess of 15m shares each day. In the absence of shareprice moving new information, it is very reasonable to expect selling to occur at each new price point, as holders who bought at those or higher levels, are encouraged to put their stock on the sell side.

What has me extremely excited, is that the buying support has emerged, and apart from a few million that I accounted for....the buying strength is real.

I also believe those games being played on the sell side but far enough from the action to assist in panicing some inexperienced sellers.....show that someone has genuinely been accumulating stock over the last 2 days.

I have never sold a single share, so mine are all in safe hands.

Good day to you all.

Kiril.

I hold.