He can not just say hey we are hear still, if he is planning, but not final, he can not release that either.
Looking at things, I think there is a concerted effort to get raiden as low as possible.
I have seen this pre take overs, not very often but have a few times over the last 30 years.
If a suitor picked up 10% at around 0.5 to 0.7, there entire average is much lowered.
Also crunching a share price, any bid, would most likely be accepted due to negative sentiment.
If Rinehart put a bid in today, say at 1.2c, I bet 50% of shareholders would sell as they see no hope.
I am not saying Rinehart bids, or has taken a stake, but a company can be made to look so rotten people just want out and 1.2c is more than twice today's price so would be considered by those feed up.
Today before the dump, the asx volume was 5.1m. Certainly not not high enough to trigger out.
Then at 3.47pm one holder dumps 14,932,696 shares.
Looking at the last annual report, 30 June 2024. There were only 18 shareholders with greater than 14m shares.
So these push downs are not caused by normal holders, but sophs, funds etc.
RDN Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
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