I cant imagine that the current directors will be selling out of their shares, but perhaps Allan Mulligan who was the old managing director of Walkabout Resources is currently selling onto market.
In the 2nd Quarter Activity Statement it mentions that NMR would be bringing Mr Mulligan on board as Executive Technical Director. However in a company update on 23rd August Peter Batten was appointed as Technical Director - dunno what happened there ??
Anyway Allan has a large shareholding - 30,902,895, I would put money on it that he is selling some - just a hunch.
Also out of the 98 million odd shares issued to Walkabout on the 25th about 84 million went to Mulligan, Kenway and Wallace (about 28 million each) Kenway and Wallace are current directors of the business, which makes it unlikely they would be selling (not impossible but unlikely)
That leaves Mulligans 30,902,895 shares and the other 14 odd million from smaller stakeholders in Walkabout. Total around 45 million shares.
So, yeah my hunch is that some of these shares are being sold onto market at the moment.
59.4 million shares were trading Monday through Wednesday (average volume 19.8 million) Today we saw only 6.7 million traded.
So I am hoping that the selling is coming to a close!! I think from memory NMR bounced from 3.7c last week as well, so hears hoping!!
Worst case scenario from charts I would hope that 3.4c holds as this is the line drawn from the lows on 7th October and 11th November - but hope it doesnt get that low!!
Good luck to holders!! Keep the faith!!!!!!!!! ; P
PB
NMR Price at posting:
3.7¢ Sentiment: Hold Disclosure: Held
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