Well done to all those that have been calling this sub 50c. It has just smashed through it on volume. Pity Fidelity just used all its bullets supporting it before the last quarterly before being blindsided by the following announcement. We shouldnt forget the 35m shares that were issued at 90c less than 12 months ago that will be putting a lid on it for the next few years either. This was such a short and will continue to be for the foreseeable future with the same managment. Good for them though - they are killing in it salary and bonus.
As a FYI - the shareholder base is getting worse. House brokers of Cannacord, Hartleys, Morgans, and Patersons who were all on the ticket are the biggest sellers which means they have a lot more to go seeing 30,+ was issued.
The sales for this Calander Year look like;
- Morgans 1.36m
- Hartleys 1.36m
- Patersons 721k
- Cannacord 630k
Look out below this thing is moving at speed!
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