Like the rest of you I have been meditating in my idle moments about the price action here. Frantic one day then dead the next, it has to be one or two traders employed by unknown buyers/cappers/accumulators/or ? to account for the activity.
About 6m CDIs were moved off the ASX last month, either to the JSE or AIM and converted to shares, not a big number but it was 58m the month before moving in this direction for some reason. Maybe the traders needed some ammunition on the ASX in the form of a CDI to keep up the facade of activity so they could pick up some more in the process. Just speculation by me, but the people who move shares/CDIs from one exchange to another are bigger players with some purpose to accomplish.
If it does eventuate that a takeover is in play, then capping the price would be very beneficial for the buyer of course. Anyway, there is still plenty of room to move upwards when the lawyers have crossed the t and dotted the i and the champagne is flowing in the Congo.
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