sleakbeak,I dont believe the announcement will be seriously bad,otherwise the selling volumes would have been much higher.Vols for the day was 2 and a bit million so really not even 3% of script passed thru the gates. Bank Of America/merryl Lynch increasing their stake in JAL just only 3 weeks ago(29.03.2010),indicates to me that substantial holders are in the know regarding a company and its status.Why would they increase their holding if the BFS was subdued.? Good point. Why the selldown? My guess is that the seller involved in manipulating the SP southwards will be a benificiary of a SPP at lets say 15cents. Lets face it the company at some stage will require funds to commit to production status.Dilution is nearly a certainty,but if we are sitting on resource much greater than the existing 124million tonnes,any dilution will be irrelevant to some extent. Tomorrow will be interesting for many.Hopefully all good. the fact that Coal spot prices have increased some 40% of the previous months has to be an immense positive for any coal producing hopefully. cheers ronstaa
JAL Price at posting:
14.8¢ Sentiment: Buy Disclosure: Held
