The last reports we were getting from Webral suggested Patto's...

The last reports we were getting from Webral suggested Patto's were offloading and other brokers were picking up the slack. Do you have access to data that suggests otherwise GC?

Patto's took 116m shares @ 1c in the placement. The shares were placed on 10 September 2014 and since that time 119m shares have been traded in total and we've been no higher than 1.2c.

I would've thought Patto's objectives as underwriter would be to:

1) reputation wise, make sure all shares were placed, even if that means taking some themselves (which happened); and
2) once they underwrote, reduce their $1.1m exposure to PYM to something that gives leverage to good drill results but won't be a massive loss if drilling produces dusters.

So what might such a position look like - $100k worth maybe? Which means they'd have to offload 90m.

The pattern seemed to be to wait for the buy side to build at 1c before dumping into it from off screen - but then the sell side started stacking up as we drifted downwards.

My gut feeling is the 6m currently at 1c might be the last of the offload supply from Patto's.

DYOR