price, page-4

Price. And why do you think that the "bot" more likely "bots" have been involved all day? The SP is a steal.
ICN had no choice but to get that Placement, ASAP. They went into Halifax-1 hoping to buy a few Holdens and found that they were in the Rolls showroom. A potential embarassment for someone with a small bank account. They had to take whatever price the market offered. .22. That is not the true "value" of ICN's shares, it is practically a fire sale desperate act and "the market" knows it. Won't be seeing that price for much longer IMO.

Beach couldn't believe their luck with Halifax-1 and are now going to test Halifax-1 and 855 to the eyeballs with the finest toothed comb. Of course, that will cost much more than the $16.2 mill that would secure them the J/V. But that didn't worry BPT one bit, they were in a no lose situation, they had the dough and prepared to throw much bigger bucks at Halifax-1 and 855, and they were the operator.

Like a very high stakes game of poker, if you had a good hand (and ICN had 40% of what they thought was two pair to start with and now what appears to have turned out to be a royal routine) you had to either keep throwing in chips or blow the kitty. Not that they would legally have lost all their equity in 855, but, put it severely at risk of big brother, BPT, taking over the running and ICN seriously risking the asset that obviously is their lifeline if they couldn't stay in the game.

They have probably bought time with their $20 mil in the bank, but, with their SP at these levels and seeing how day by day CSG is becoming a pariah, 855 is looking VERY attractive to "outside interests". The eastern border states must still have gas and it has to come from somewhere, where better than the Cooper Basin shale. And, thanks again to the CSG concerns, that gas will also become much more expensive!!!
Thanks to Santos's Moomba-191, the strife with CSG and the resultant attractiveness of shale gas, 855 is now on many radars. VERY interesting times ahead for ICN, because they are on the front line whether they like it or not.
The AGM resolutions also appear to be a strong talking point going by the angst shown in this forum, so, the next two weeks in particular might have most interesting outcomes. Be watching BPT anns re their fraccing in 218.