The high turnover volume does not necessarily mean anything - after all we have had reasonable volume for that last 9 months, and the top 20 has only changed to a minor degree. This leads me to conclude that much of the trading is to and between themselves.
The large holders would like you to believe that there is a wholesale sell out happening, and so they may have increased their trades to themselves, and this EXT thread screams about manipulation - possibly unnecessarily.
I tend to think that the current offer for KAH is insufficient for large holders to rush in their acceptances. These organizations have been carrying the opportunity cost of their capital for a long time (as we all have). A measly 16% will not really excite them, unless they genuinely believe no one else wants control of the 4th largest uranium resource in the world.
I also expect that Rio and Itochu are in for the long haul anyway, and will not be sellers. That takes close to 30% off the takeover table.
Time may prove me wrong, we will see.
EXT Price at posting:
$8.50 Sentiment: Hold Disclosure: Held
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