Interesting. Assumming ML are completely clearing the decks before the next conversion, the 7th Oct conversion was disposed of at roughly 350k per trading day. The more 28 Jan conversion appears to have been disposed of at about 930k per trading day.
This was a bit unexpected - I was looking for the next 3B (if at all) late next month. Doesn't look like their A team at work here... could have made more by a slow disposal and leaving an unconverted balance to ride the fortunes of the Gindara well.
They wil be lucky to break even on this latest conversion if they continue the pace of the last few days. Of course, they will break even or someone at ML will get their **** kicked, but sweating the prospect of getting caught holding a portion of this conversion with drilling in progress, there will be enthusiasm to get this cleared above 0.08 and quickly...
NDO Price at posting:
9.0¢ Sentiment: Hold Disclosure: Held
