I reckon you are spot on, like you I have seen it in other oilers as well.
Surely the ASX could easily uncover multiple desk trade from the one organisation acting in unision if they had the will. You see the massive buy pressure at times then 10 or so orders perpetually regenerate to keep the price down and the impression there are plenty of sellers. Any genuine seller would hold back and let the price rise. The problem is any genuine seller has to match the ask or go underneath it. The cap with Arc is obviously around the mid to low $1.40's, at least until the institutional placement which should be soon.
The 30 day average SP for Arc is currently $1.34 so I reckon they will get them ~ $1.29, take the cap off the stock and a re-rating could see it race to ~$1.60 at least, a nice earner for their trouble.
ARQ Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)