Think about if someone offloaded 3m shares at loss of 10c and gained 146m shares at bargain, that is what's happening. Once the deal is done, the selling will stop. It creates a panic for an existing shareholders and it looks like an opportunity to the shareholders to get a premium price at TO and kind of forced to vote in favour.
I bought into Mitula Group shares 1 month before TO, the pattern was very similar, you just wouldnt have your head around why someone will sell into when the company was making a serious free cash flows, and a month later at 47c, the TO comes at 80c, boom !!.
Watch this space, dont sell in my opinion.
If it goes to 65c, I will buy another 50,000 to average my holding under 90c.
NTC Price at posting:
72.0¢ Sentiment: Buy Disclosure: Held
