SMN technical analysis chart, page-778

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Lies&damnlies

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09/11/23

21:25

Post #: 70819568
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Originally posted by Lies&damnlies: ↑

Hi Folks

Up early again, old age is a bugger although better than the alternative, and couldn't stop the brain from ticking over.

Speculative thoughts about the buyer who had a incendiary impact on the SP yesterday. Then I thought about the recent placement of shares/options at 43c to institutional and sophisticated investors,. $1m to overcome short term cash flow problems more than likely cause by extra testing requirements and the ongoing delay to approval.

I went back to the announcement and something drew my attention.

"We are very encouraged by and appreciative of the support of our shareholders in this placement,
the majority of which was completed by long term existing shareholders."
A majority of a placement to existing shareholders is not all of the placement. Someone else from outside joined in.

So this "Neville nobody" must have been known to the company to be invited to participate in the placement and provided with some detailed information, for his due diligence.

Maybe Neville was not allocated as many shares in the placement as he would have wished.

So is our incendiary buyer Neville and just how many more shares does he want?

The placement was at 43c and if I am correct, I think he was our 60c buyer yesterday for about 160k of shares for a spend of around $100,000. Lets hope that was just a starter.

Just my rambling thoughts, so DYOR.

cheers Lies

PS I think that over the coming days, we might by chance, just be lucky enough to hear from the bleachers "Go Neville Go"

PSS markets open in about an hour for the crowds entertainment.

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Hi Folks

Well, things were quite today with the buyer seller spread so wide. If Neville is still interested I suspect that he backed off today, as I had speculated, to see what a lack of buyers at volumes does to the SP. Only 53k traded today, with the biggest lot at 11.9k.

The seller of 34k of shares that I noted in my previous post was at one stage on the market for 70.5c buggered off to 78.5c today.

I don't think that the purpose of his placement has to do with actually selling the shares, as he seems to keep a good gap between the last sale and what he is offering his shares for.

Next?

cheers Lies

SMN Price at posting: 69.5¢ Sentiment: Hold Disclosure: Held
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