It's definitely appears to have been a game of cat and mouse over the past couple of months, with buying on and off the screen, sellers reloading but not in a rush to get out and patient accumulation.
I was actually thinking "they" were trying to keep a lid on the share price. (imo any such action would only benefit any capital raising or raising as part of relisting) The higher the share price the less number of shares that will be consolidated in order to satisfy the IPO price of 2c, this is a positive to existing (long term) shareholders as less dilution and a negative for income shareholders due to them owning less of the company and thereby any project being vended.
Apart from the odd sell down by someone eager to get out and buyers looking to move the price up to simply close out an order. (although I do recall a couple of tiny sells of parcels less than $500 to close the stock down) the buyers/sellers have been demonstrated patience. As you correctly state it looks like the seller that kept reloading at 0.007 has either no more stock or has disappeared. For the first time today, we got (for this stock) decent volume going through at $0.008.
With stuff all stock on the sell side, it won't take much for this to get back above 1c, which would will be extremely positive for existing shareholders to minimise dilution. It's also nice to recall that despite this deal taking years, most of the trades with any volume would be on or above 1c, so any selling below 1c would be done with stock that has been purchased on market at 1c or above, another way to say this, any stock sold below 1c is quite likely, to have been done at a loss. Also, with only 470mil trade able shares that any buying interest will mean the buyers will have to pay up. I suspect, given the bulk of the capital raising this company has done has been at 1.2c, having the price above 1.2c (esp at any consolidation) would make those that participated much happier.
D: Own plenty and continue nibble away (from time to time) at a few more if/when it gets sold down to what I consider silly levels.
Cheers
Clever1
EOR Price at posting:
0.8¢ Sentiment: None Disclosure: Held
