re: 53cent bid
no salty - have only confirmed that QIC has been approached and declined to sell (for a long time was how it was put to me but you never know).
There is talk that a super fund in WA hasn't kept up with the story and has been talked into getting out and that has been added to some smaller holders to parcel up for a big offshore buyer.
My suspicion is that the off market cross the other day was bulking up the parcel for todays on market trade but I cannot confirm this - it is just my guess cause the volumes were similar.
The prices have definately been kept at this level thought with various offers being put up for 500k & 800k and 400k and 200k and always little bids appear against it for 10k & 20k and as much as 40k but sellers never hit them in anything bigger than shrapnel.
I don't know what to make of it - at one stage today you could have bought 200k at 39c or a u offer of 4.15m at 39c and then after the unofficial crossing it goes 40c bid and the best offer is 43c and no sign of the previous sellers.
My guess is that there was a little negoitating going on about price and they were pressuring the seller by offering it down - today they got the bite and surprise surprise there is no real sellers.
I have heard Pattersons are involved and I thing they have a good presence in WA so maybe they have talked the WA superfund out of their stock.
PXL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
