I would estimate (pure speculation only) that ML would have roughtly 10M left as at now. That being, 25M odd issued on conversion - and roughly half the market volume since being their selling.
I don't think they will convert the last 9M before spud. If their idea is to sell the lot, they have *10M* shares left physically - so why convert.
Also, they could short the stock if they wanted to "pre sell" the last conversion.
That way, if GDA is a duster - they can simply buy back their short sold stock if the price of NDO is lower than 8c, or convert at 8c.
I am hoping and praying that NDO has hit HC, and they release same with their drilling report tomorrow.
The drilling report tomorrow is most likely the last chance for NDO share price to increase before the TH is issued re-end of drilling.
I would estimate (pure speculation only) that ML would have...
Add NDO (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
85.5¢ |
Change
0.005(0.59%) |
Mkt cap ! $194.9M | |||
| Open | High | Low | Value | Volume |
| 85.0¢ | 85.5¢ | 85.0¢ | $96.28K | 113.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 23000 | 85.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 88.0¢ | 29650 | 1 |
View Market Depth
| Last trade - 15.00pm 11/07/2024 (20 minute delay) ? |
| NDO (ASX) Chart |