Evm has had bots sniffing around before now. I have suspected for some time that little parcels like the 700 buck job that was lobbed onto the depth yesterday are being put there to put a brick on the share prices' head.
Anyone who doesn't look at the depth and only checks the last traded price or the bid / offer will see a misleading picture. Often when a few pips of strength appear these small sell downs occur. I know I sound paranoid and cynical but it does happen with monotonous regularity. None of us (the cheer-squad) would attempt to dispose of shares in that way because brokerage would suck the negligible profit out so it has the be a broker or similar. What is the motive? Initially I suspected it was one of the recipients of a placement selling out for a meagre profit bit by bit but now I'm leaning toward the tin-foil hat conspiracy theories.
The ASX is awash with manipulators an I think one has put a cross on EVM's forehead because they know that when it pops it will go ballistic and when it does, you can mop up more shares in a hurry from a low base than you can from the "alternate reality" EVM that should be sitting on 10c at the moment. OR we can start talking about take-overs....
With an 800 million dollar construction on offer and talk of financiers waiting in the wings, what obstacle does a 16 million dollar market cap present to a possible take-over? OK - I know that Roger and his merry gang (including us) are in possession of a very large quantity of EVM shares and could easily block a hostile T.O. but it will always be on the basis of VWAP or similar and from a negotiating point of view (for the predator) the lower the better.......
Incidentally the top 5 shareholders hold around $150 million shares which equates to about 42% of the shares on issue (non diluted). Any options to convert would fall mostly in that basket anyway....
Actually I'm not sure those numbers are right. That's from eTrade and could be out of date....Near enough though...
So where is the line in the sand for a take-over? Consider the incredible leap in the value of the Intellectual Property if the first tower operates as modelled?! The IP will jump from 60 million to 400 million (my guess) . In that case I want a dollar a share.
Anyone have an opinion?
EVM Price at posting:
3.8¢ Sentiment: Buy Disclosure: Held
