"Do we think the timing of this one is designed to coincide with the results of the 2 EFS drills ?"
No design, but cracker of a coincidence. HK have jumped the gun and we're chasing the bullet. Took us by surprise (the bit I don't like))
"If the price goes up on good news, everyone will scramble to take up their offer, no ?"
ANSWER ONE WHEN the price goes up on news of 2x EFS and 1 x PIerre, assuming inside the SPP period, 3 things may happen...
-Fence sitters will take up their SPP -Some will sell (they'll lose that price advantage forever if intention is to re-enter) -MOST IMPORTANTLY...the buying will be sentiment driven, with no price advantage to sell into for non SPPers. Actually a better deal than the SIs got.
Also, the trades are unlikely to be disruptive blocks as limited to 1.5 mill per SH.
ANSWER TWO Your guess is as good as mine.
AKK Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
