hard to know what is driving the rise......perhaps it's the...

hard to know what is driving the rise......perhaps it's the change in sentiment around rates (reached a peak in the US and next move down which is impacting sentiment globally) and/or no sign of a capital raise (which may have been a possibility a few months back in order to kick start growth), but it appears that the market is starting to buy managements narrative that they are waiting for the market to turn before they increase their loan book further and push for growth.

The hope is that there are no material losses on the loan book (their credit checks are working as expected), and they can start renewing/renegotiating loans/warehouse facilities at lower rates which may improve their margins and also enable them to start growing slowly.

Volumes are not small in the context of historical volumes either.....since Oct the number of days with >1m in volume has increased with today likely to be over 1.5m in shares traded......no large holder notices, but $$ value is still relatively small so hopefully increased liquidity will bring back some larger shareholders