An interesting afternoon of trading it appears.Given there was...

An interesting afternoon of trading it appears.

Given there was over 65m traded today across the two exchanges with a round 50:50 split we might even see an Appendix xx soon depending on who was acquiring. KMP or an independent party wanting a solid stake or even a blocking stake....who knows.

Also it might have sunk any potential conversion of the 3 cent options due to expire in a day or so if the intent was a short term hold so they didnt have to fund the conversion from own pocket (assuming there is no escrow attached to the converted options which I dont think there was when they were issued). They still get to pick up the 2 cent options and be in the money immediately.

That aside the price of ords needed a check of some sort as it didn't punch through the 3.6 cent convincingly last week even though it held up for a day or so. I thought perhaps drop back to 3.2 or if through that then an ouch. It was a bit of an ouch for many later comers at a guess.

Roll on Thursday...