firstly, i think it's a near certainty that this going to be turned into a resources company given the blackwood link to ABU and the board addition of imants kins
secondly, the register is extremely tightly held... not many shares out there for us mug punters to be picking up - also, barely any strength for ppl to sell in to. this, i think, helps explain the falls in the recent couple of days. a lot of new supply of shares has come on because of the cap raising, which has crushed the near non-existent demand (no demand because none of us know what is going on behind the scenes). i imagine it's a bit hard for those new holders to resist selling some shares they've just bought days before for 300% immediate profit! it has been tiny volumes (in comparison to the total shares newly issued) that has caused the share price to fall the last few days. and given how easy it is for those privileged few to triple their money instantly, i'm not surprised they cashed in a bit.
thirdly, we had on market buying by a director of the company today. i seriously doubt whether someone like vaz hovanessian would be putting his money into an empty shell that he ALREADY HAS A MAJORITY HOLDING IN (as per last annual report).. doesn't make sense, unless there is something going on behind the scenes.
at the end of the day, something is going on here.... i reckon it's going to be turned into a resources company. the share price has fallen because of the recent issue of shares at .2c - i doubt it could be anything else, particularly because there was on market director buying today on a down day... obviously it would have been nice if the share price had stayed around 1c until they announced whatever they are doing, but the falls can be attributed to a perfectly plausible reason, which has nothing to do with the potential of the company.. let's hope we get some news soon and the veil is lifted on the company's plans are
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