If we assume that all the holders that received the discounted stock at 8.5c will sell for an easy 40-60% profit before drill results we have traded 29,000,000 shares since trading resumed on the 15th With a placing amount of 38,000,000 shares we should have around 9,000,000 left to shift.
We seem to average around 1,500,000 shares a day so would take us another 6 trading days to clear to takes us nicely to next weeks update on wednesday which should hopefully have some flow rate results.
I really hope that the placement stock is cleared by then so there is no selling pressure when the (fingers crossed) good news hits.
Scy
JKA Price at posting:
13.1¢ Sentiment: Buy Disclosure: Held