I was wondering about the large buy order @2.7c... it is the...

I was wondering about the large buy order @2.7c... it is the price the speculator bought at.

His record is quite good, unfortunately much of his gain is due to reactions to his purchases and you end up with a loss trying to follow him... e.g. he bought @2.7c so he is on a gain of 0.2c, whereas if you bought when the news came out, it would be @3.2c and you'd be on a loss of 0.3c. In the short term mind you!

The placement is going to happen soon, and he wrote about that, so I'd expect a lot of his followers to be waiting for that before buying in.

He did mention he bought 200K shares in order to get a stake in the placement, although he didn't point out that he'd only get 1 for 9 which is quite small, however I guess a lot of people missed that and so bought up yesterday with the anticipation of the placement offer too.

Overall, this is great news though, as it will spur sophisticated investors to oversubscribe, especially because with that huge buy order @2.7c, that's over 0.9c profit per share (assuming exercise of the options)!!