Hi PTFE,
Quoting your comments:
[1] Hooters suggestion of the $1.10 KO warrants? Hard to know if this is worth their while without knowing how many have been issued and at what price.
This is possible, but it would only be short term, and price will rebound when its over; so this does not really pose a long term threat as such.
[2] Shorting the market because more bad news is in the pipeline? Doesn't look that likely as shorts only about 3mil.
This is unlikely, we know that the drilling is progressing slower than usual and is no where near target ATM.
[3] Vindictive institution teaching SP a lesson about talking up placements? They were probably very very angry but not that angry.
Not likely, as institutions are generally playing with other people's money and are not that emotionally attached. They probably will not buy into another placement but that's another issue.
[4] Preparing the lamb for slaughter? If you can knock a $1 off the share price before a takeover thats probably close to a dollar saved on the final takeover price.
This could be a more likely situation than most people realise. If there is a TO now even at this ridiculous SP, IMO they would end up paying at least $2-3 (and that is not counting unknowns such as Flamant and Nziizi), to complete the TO. So their best option is to accumulate now at the lower price to have a lower overall price.
ML last declared just under 10%. Now?
[5] Other unknown conspiracy theories.
May be there is no conspiracy theories, just the general oil market. Look at OSH $3.01 down from what, $4.30 from memory, ARQ was $2.40+ at one stage and now $1.20+ (actually this is very similar to HDR), WPL was around $48.00 and now around $35.00.
Meanwhile, we cross our fingers and toes for Flamant next week probably and Kingfisher, now a third of the way down.
HDR
hardman resources limited
