I ran into these guys down in the low to mid 20s and they are real buyers. They deposited about half a mill cash into my bank account when I couldn't resist the temptation to bank something.
Who is laughing now? They are as they are already 6-8c in the money and now they have moved up to 29-31c area. Bidding for $300k per clip is pretty impressive and smells very insto.
Don't know if anyone else saw how RRL stopped decending last Friday night right at 20p . . . . it looked like someone moved an accumulation level up to there and any profit taking was being absorbed. It seems to line up nicely with the current ASX bids sitting just below here.
So it looks like the buyers are still around even with the price up here and the market cap. in the $400m-$500m area.
Nice.
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