Last time i looked, i didnt see 275m shares on offer at 2.2
it is psychological, while it may seem that any "one" person could buy on market at 2.1-2.2-2.3c, the reality is, that if everyone tried, the sp would be much higher, and, the flip side of the coin, is that the sp is sold down to 2.3c, because, when at 2.6c, people sold at 2.6, 2.5,2.4, 2.3 to swap for script at 2.2
Further, many holders, who take up the spp, dont buy on market, so the sp languishes.
When the spp closes, the selling pressure will end.
It is simply, the opportunity to buy at 2.2, no brokerage, and no chasing the sp on market.
Now after the spp closes, the situation changes.
The question is, really, are they proceeding with getting the job done, to trigger a sale event to 30c, by getting flows in the 5-10mmcfd.
Perhaps, this spp, is a cleansing last offer, dont say we one and all, never had the opportunity to buy at these prices.
MAE Price at posting:
2.3¢ Sentiment: Hold Disclosure: Held
