market depth

Market depth is looking the best it has in a while. Some solid buy bids just off current market price. I would suggest perhaps a bigger player trying to accumulate? Trading action has been interesting this month. Share price has bounced strongly of the intraday low of .16 earlier in May. I am convinved a buyer dumped some stock on the market to push down the price quickly in order to flush out more sellers at lower prices (perhaps CVA sellers that got a bit flighty at such a price, or even to try trigger stops). Volume wise May has been very strong. It would appear that the story is slowly starting to gain traction and those slitting on the sideline waiting for further guidance from the company are finally starting to place their bets. Microequities (ME) has put out an updated report and I hear another broking house, Linwar, has put out a report with a price target and FY12 eps estimate in same neighbourhood as ME. I am reading about BGL in the financial press more often as well. BGL can't stay on a foward year PER of just 6 and a ridiculously low EV/EBITDA multiple(on top of an anticipated div yeild of 5% or 6.5% grossed up) for too much longer.

Of couse just my humble opinion so DYOR