Lets assume a 90% conversion rate occurs on the OCs. That's around 100million options to be paid for this week which is about $5 mill.
Once that capitals been allocated anyone looking to continue to grow their position will return to buy the heads. This week it is likely there is still some downward pressure of selling the heads to fund conversions, although people would be pushing it a bit with two days for money to clear.
Sideways this week is to be expected and then I anticipate SP growth in the lead up to PFS. From PFS is anyone's guess atm.
Anyone not converting heads this week should be able to do some decent accumulation.
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Last
30.0¢ |
Change
0.010(3.45%) |
Mkt cap ! $29.53M | |||
| Open | High | Low | Value | Volume |
| 29.0¢ | 30.5¢ | 29.0¢ | $33.48K | 113.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8000 | 29.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 30.0¢ | 5292 | 2 |
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| Last trade - 15.35pm 19/07/2024 (20 minute delay) ? |
| MGT (ASX) Chart |