When you have a fund dump indiscriminately like that into yearend it creates a buying opportunity. There are multiple reasons (obviously) but the main reasons are usually performance based, given the price breached the 7.5c (from the cap raise), a fund would be looking at preserving its performance into yearend. Also, the market is hot at the moment, so they could be freeing up capital to chase the multitude of IPOs and reverse listings happening now. If they weren't put into the free cap raise then we'd be still in the 9c range.
Fundamentals haven’t changed and with positive news flow expected into a full scale Australian launch in February. I’ve heard revenue is ahead of budget already with only a skeleton crew. US revenues should also be announced soon.
SFI Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held
