Here we go again. Check out the overhang in this morning's...

Here we go again.

Check out the overhang in this morning's auction.

On screen it shows the leading buy bid as 300,000 at 10c.
To chew through the offerings, it's going to take the opening price to 10c. That's all fine, but here's where it gets interesting.
According to my live screen, the sell orders on screen are:

75,000 at 9.6,
4,500 at 9.7,
56,628 at 9.9 and
494,250 at 10c

This should leave a surplus volume on offer at 10c of 330,378......right?

Apparently not.
Surplus volume on my screen clearly states 3,177,289 shares at 10c.
When that annoying "Iceburg" was hanging around a little while ago, the opening auction did the same thing so perhaps that sell order that we can currently see at 10c, is actually much bigger than we think.