1. As he is no longer on site or in the company what information would he have that the company does not have? None. No doubt he may have friends on site or in the company, but no more information than anyone else has. If there was something "bad" about to happen well that person was wrong because LCK just produced gas didn't they. And his source would not remain in a company they believed was destined for failure. Especially in a country town like Adelaide you'd find the first chance to lassoo a new job rather than stay somewhere sinking.
2. Are any LCK staff and directors are selling? No. Speaks volumes
3. Are any of the top 20 shareholders selling? No. Speaks volumes.
4. Have any others been selling? No. Do we need to go further?
5. The Placement was OVERsubscribed. I am 100% sure the broker LCK used would have been on the phone to him to make an offer to him to earn more commission. It does not appear to me that he took that opportunity to sell into that larger volume available and chose to continue selling through the screens- which always end up suppressing the share price. If a person had bills to pay or Bobo the Russian on their doorstep they would use an oversubscribed placement as a godsend to sell in a heartbeat. Ask yourself who would not take this option up and stay selling on the screens knowing they were going to remain a large % of the volume. This is THE smoking gun afaiac.
6. "Anti CNE because their take over offer will probably be too low". He was gone before CNE kicked in the $30m lifeline that got LCK to gas. One would only be confident of a take over if Gas was a given. He was selling at every opportunity there has been volume including before Gas, and right on gas announcement. Ironically it looks like he has been that volume- at least on the sell side. Even if he were actually working for CNE to suppress the share price by carefully selling his own shares at the worst times through the screen is would still be contradictory.
7. You are not a mining expert. Was he? Do we need to be? Let us instead ask whether the LCK mining experts - who just produced gas- have changed their linked in profiles to "gas expert looking for next challenge in life". No. They worked over Grand Finals weekend. Sound like believers to me
AND THERE WE HAVE IT
If the consistent sell that pulls the share price down immediately following every buy order from that bot (which is pulling the price up) doesn't drive you insane we just had more dumb selling from 3:54pm. Right on cue just like last Thursday at 3:54pm. Utterly, utterly stupid selling which drags the share price down 9% from 22c. SPI futures are flat too so no one is selling on news.
I don't know or care who this person is but they are either an idiot seller or an accumulator trying to generate capitulation selling to buy into. If so then genius meet your fool.
If anyone reading this is that fool- and they were the person who put those trades through on their Self-wealth screen, please, for the love of Warren Buffet get a stockbroker and stop losing your money.
LCK Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
