Watching the market depth today, it was pretty obvious that someone was accumulating and trying to keep it quiet.
The spread was 41.5c / 42c nearly all day. The majority of the trades went through at 42c, but immediately after each 42c trade, a small trade at 41.5c would be triggered - so the "last traded" or "current" price was always displayed as 41.5c. The buyer was able to accumulate a fair swag of shares without looking like the stock was moving at all. In fact, looking at the course of sales, no significant trades were completed at 41.5c - they were all small parcels.
Not a bad day to do it on either - without the determined buyer, we would probably have been a cent or two further down.
I don't mind bots / manipulation / conspiracy theories as it just means that interest in the stock is picking up.
With a positive lead from Wall St and some higher metals prices, we could well push into the mid/high 40's in the short term.
JML Price at posting:
41.5¢ Sentiment: None Disclosure: Not Held