something different

Chimera, I read your post about the trading and brokers' activity with interest

I do now know what has happened over the past few days, but before then 2 Sydney brokers, Fosters and BellPotter, were active. In the latter 1/2 of June they were keen buyers, as it would appear, with F only buying, and BP net buyers. BP then went quiet, but F kept up its exclusive buying, but BP then took over as the exclusive buyer - if you get my meaning (ie not selling). Anyway clients of Syd brokers, and perhaps the brokers themselves, have been avid buyers.

But what of Argonaut of Perth? - the company supporter. It's been a net seller over the said period, so it seems.

In Syd the buyers have sway, whereas in Perth, the home of RNI, the sellers have the edge. What is going on?

IMO, there is SP capping going on. There is also accumulation occurring. The run-ups are quickly doused and the SP gradually drifts back to the SP support of 30c or so. This is also a TA support price. There seems to be no urgency either.

I am confident vg news is coming. But I think that something is holding the SP back, and it could be a planned cap raising. Why would I say that? Well for a start, the activity of Arg; then there is the high probability that much money will needed for both the gold mine recommissioning and continuing exploration IF the $20m loan from New Holland cannot be "unconditioned". The planned loan was announced at the time the Grosvenor purchase was, but as can be seen from the June Q cash report, it still hadn't been signed off. Is there a problem there? Does anyone know anything?

In the meantime though, the company continues to eat into the SPP-raised funds of $10.7m. That was meant just for exploration and general wotking capital, but is being mainly consumed by the recommissioning work.

See where I am coming from?

I