Nobles increase in its holding is a strategic move by a HONGKONG TRADING HOUSE(read chinese controlled entity) to secure majority control of an australian minor,hence the debt conversion(no foreign takeover problems when the shareprice crashes while its going on).
They were buying at 41.5c before the bad announcements started arriving,when they already knew what had been shipped on their boats prior.
Bet next will be a share buyback at 20c when it hits hat low.I believe a longterm strategy is in play.
either way its about control and when their happy enough,bet some new tenements will be developed.
In the meantime $20m that was written off is coming back to TTY that wasn't there before this deal and not from noble
Add to My Watchlist
What is My Watchlist?