This is great news and will now let the share price do what it has wanted to do for the past 6-8 weeks.
I had no problems with Transocean selling the majority of theie converted options as it placed andother $2.6 million in the ADO bank account and the fact that they are holding onto the remaining 10 million converted options is another bonus and shows their faith in the company. The only reason for selling was to meet their debt repayments.
Now the selling pressure is over we will now be able to see the share price rise nicely, as we have all been waiting for.
Well done to everyone who took this as an oppertunity to top up and a BIG well done to DS who put his money where his mouth is and was able to build a nice solid position.
As for wegian, bad luck mate you should have picked some up at .067 like you said you were going to, now you will have to pay up alot more! Unlucky son!
ADO Price at posting:
7.4¢ Sentiment: LT Buy Disclosure: Held
