Volume drying up even more.
ChiX trade volume pathetically low, less than 1M today.
ASX volume traded a mere 30M so far today.
As
@HamburgerK has shown on the data several times, some INSTO with lots of capital (maybe acting for an interested party) is swiping the split bids at 4.25c and has been for a while above Ginas bids.
The lower the volume goes the less Gina gets and the less likely her bid winning is at 4.2c.
She may have to increase her cash bid to 5.0c and offer the large holders offmarket prices well above 4.2c maybe even 5.5c. It looks like the yank bondholders have spent all their large volume equity for debt and have exited the register as the volume would be much larger otherwise.
Twiggy is being very clever here, dont fire until you see the whites of their eyes...Zulu. The last holders with the most patience and fortuitude will end up with blocking stakes and may be be well rewarded imho. Gina must be realising by now that she cannot get 50% let alone 90%. She must be asking who is blocking her and why is everyone holding and not selling?
These are the hardcore aussie battlers who have been through the ringer and are making their last stand, they want AGO to remain listed debt free with aussie shareholders. Either way, AGO is back in aussie hands.
I wait for the multibagger once they realise AGO will remain listed, board swept under Gina and/or twiggys control and will be recapitalised debt free with rail access.
I HOLD LONG, HOLD STRONG
