Rockyboy's original post states in part "in about June /July Michael Kiernan was about to put a bid on Consolidated Minerals. It was in his interest to have the shareprice high to strengthen his bargaining power in the bidding process"
Rockyboy also said "Could this be a case of, wait for it, "market manipulation" with lets say TTY setting aside a lazy few hundred thousand or even a mil. to "move the price"...
The obvious implication of these statements is that TTY, and Michael KIernan in particular, are manipulating the price to encourage shareholders to take up the offer.
My points are that firstly, they seem to be looking after shareholders very well. Secondly, they didn't need to device a plan to rip us off. They can easily raise capital legitamatly. Third, directors and cornerstone investors support the offer. Fourth, market action up to close of offer today suggested more to shareprice increase than manipulative diretors. Fifth, I put my money where my mouth is, and bought recently to increase original holding.
However, I am aware that during capital raisings, it is not uncommon for companies to encourage large shareholders to support price until completion of capital raising.
Todays action seems to confirm more to SP increase than manipulation.
All above is only my opinion, and is not intended criticise the opinion of any other poster here.
TTY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
