Bread89, opportunistic seizing of control (51% will do it to start) of a company with huge upside sp potential for a low ball price ( which can be manipulated to fall eleven lower) is what the smarties do.
That opportunity certainly exists now with CDY with a sp of 25c, a fair value today of 80c + and a 3 year upside of $1.20 + and on Midkine success within 7 years a sp $6 in not unrealistic.
The ASX is right now finally inquiring into the questionable market activity in CDY. We should hear the outcome in coming days. Don’t expect any illuminating outcome from the “Inquiry”.
The takeover by stealth that’s likely taking place would continue as a ‘normal’ commercial activity curiously under the radar of the regulators but acceptable in the business world despite retail shareholders bearing the brunt of it.
This is the most plausible explanation of what’s going on. Now that the cat is out of the bag the stalkers can be expected to bring forward their game plan with a bid in coming weeks (my guess).
We may well see a 20% bounce in the sp in the next few trading days. This would be a first small push back against control of our company being seized for a ridiculously low price.
CDY Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
