Let's get back to the research report prepared by Moelis. I...

Let's get back to the research report prepared by Moelis. I hadn't seen this report until gratefully provided by Deako. I have a few thoughts about this research, and I'm happy to be corrected if I'm on the wrong track, its just my putting thoughts on paper.

I was involved with another company (going about a transitionary phase) a couple of years ago that had Moelis initiate research on that company. In that circumstance Moelis clearly backed the particular company, and introduced a number of different investing groups, mainly instos, that took up an initial placement funds (which SFI doesn't require) plus bought a lot of shares on-market. That on-market support was able to push the share price up quite a bit. I'm not sure but don't believe Endeavour was part of that investing group. Endeavour may or may not have been introduced by Moelis, I don't know.

So my point?
Its possible that there are a number of investing groups that have become involved relatively recently (that research is dated Dec 2016), and that may or may not include Endeavour who we now know has become a recent substantial holder. Possibly that explains the fairly aggressive manner in which recent share trading has occurred, and not just by Endeavour.

In addition I note the US Disclaimer attached to the Moelis document that refers to Weeden involved with US securities (* see below).
It is possible that some of the take up on-market recently is to US investors, which makes entire sense since a lot of future income from the link up with Eagleview in the US.
As I say i may be on the wrong track and thus happy to be corrected. I'm trying to establish how likely this current push upwards will keep going until we finally get one of the milestones achieved (the first real confirmation) due some time in March or April. Frankly I'm very impressed with the strength of the trading, even if the volumes aren't yet considerable.

*( General US Disclaimer This research report has been prepared by Moelis Australia Securities which is a foreign broker that holds an Australian Financial Services License and has a "chaperoning arrangement" with Weeden & Co. L.P. ("Weeden"), a broker-dealer registered with the U.S. Securities and Exchange Commission. Any U.S. recipient of this research report wishing to effect any transaction to buy or sell securities or related financial instruments based on the information provided in this research report should do so only through Weeden and not through Moelis Australia Securities. Weeden accepts responsibility for the contents of this research report, to the extent that it is delivered to a U.S. person other than a major U.S. institutional investor. The analyst whose name appears in this research report is not registered or qualified as a research analyst with the Financial Industry Regulatory Authority ("FINRA") and is not an associated person of Weeden and, therefore, is not be subject to applicable restrictions under FINRA Rule 2711, including restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account. )