What presentation are you talking about? And when is the roadshow going to start? I have spoken to the company and they have confirmed that they are about to commence a roadshow but there is no specific dates.
It seems to be a little up in the air at the moment.
The weird thing at the moment is the trading in this stock. There is more to it than meets the eye. Prior to the first announcement there was a increase in volume however the buyers kept getting filled in and the stock was kept from running up to far. Then the announcement comes out regarding the upgrade. We have a fairly significant upgrade and before the stock comes back on trading there are sellers of 100,000 shares at every level from 80c to 84.5c with numerous 50,000 parcels there as well. This basically put a wall up and there were no traders entering the stock and thus no buying support which led to the stock eventually selling down. Then two days later after massive rises on the Dow and gold price another very good announcement with futher selling pressure above the current price which once again led to sellers having to sell down.
Now today we have a bit more interest in the stock and every now and then someone sells down to 70c on small amounts when they can. Buyers start building at 71c and then all of a sudden there is a seller of 150,000 at 74.5c 3.5c out of the market. Why would anyone who really wants to sell expose their position.
This once again is a blocking position. I have watched all along and watch sell orders move back once the market price starts to get close to their level.
To me there is someone tryingto keep a lid on this price. And they do not seem to be accumulating either. Why do this? The only rational answer I can see is that an offer for the company is imminent. This is very similar to the trading pattern used in the takeover of KIM. Keep the level low whilst the good news is released and then put your bid on the table. Frustrated punters look at it as an easy exit strategy and next thing you know agressor has a relatively large position in company.
The only way to get the best price is for management to get out there and spread the word and get the blocking stakes taken out because the story is a good one and we do not want to be short changed on this one.
CQT Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
