I traded DLI from 40c to $1 earlier this year so I remember what happened quite well. The rumours of Hancock and MIN buying DLI on market started circulating in early May when DLI was trading at 46c, over the next six weeks DLI would go on to make a run of 115% off the back of MIN's accumulation
This explains why the SP in WC8 has been so well supported, if you thought Gina or Chris weren't going to be buying this on market then you haven't been paying attention.
What needs to be factored in here is the control of the existing top20, in particularly GAM + directors.. Don't think MIN can bully their way in as easily as they did with DLI
WC8 Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
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