It wasn't JD, it was Robert Orr (CFO) who mention it. He was just making it as an example. Perilya is a bigger company than IBG, also a zinc explorer/producer, was in similar situation like IBG, where (Zhongjin Lingnan) will become a major holder of Perilya. SP went up from 0.1-0.35 (350%) in 2 months. Everyone knows it many months ago even before the announcement.
We also know that NFC (CNMC) will acquire 20% at a particular price once the EPC is announced. It is just hasn't been announce yet. So, particular holders/institutions/whoever are increasing their positions. This creates SP shoot up without any official announcement. Technically it is legal & not breaching ASX code of conduct.
why perilya limited???, page-2
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Last
0.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $5.924M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.4¢ | 0.4¢ | $161 | 40.28K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 21 | 23122250 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 21710501 | 12 |
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| Last trade - 10.04am 19/07/2024 (20 minute delay) ? |
| IBG (ASX) Chart |