@Hiddenvalue. You have, I understand, a lot on the table and so I can possibly understand you seeing the half glass full. Each to their own.
But it is entirely possible that BLK could call a trading halt tomorrow morning even if price of gold was A$2000/oz simply because just maybe they cannot nor do they expect to be able to pay their bills as and when they fall due.
At December 31 they had
cash of A$1.5m which is about 4 days of costs (40m / 90). Sure, they received A$2.8m in January and got another 7 days cash outflow coverage ... great news, but so what!
IMO, blk has a barrage of anxious debt and creditors in front of it and I have not seen one ounce of evidence to suggest that blk BOD has any idea of how they might manage that in the short to medium term.
Issue shares to Lind ... sure ... but they will dump them faster than you can say 'Lind' @ whatever the price is...
so I wouldn't necessarily call them panicked sellers nor would I conclude that they have now all gone away. there was some big chunks early to mid day today. I have no doubt tomorrow will be the same.
on monday this had a 4 handle
on tuesday this had a 3 handle
on wednesday this may very well have a 2 handle ...
dyor!
good luck!
