personally, i am not sure there is a takeover and the broker...

personally, i am not sure there is a takeover and the broker than has been buying is not the old Dingyi broker however we will see if a change of sub holding comes. maybe Dingyi are using a new broker because it is Macquarie that has been buying

but it is very important for Dingyi and all holders that the share price stays up at around 20 cents because no one here is mentioning that ELM are doing PFS and BFS that will probably cost around US$15M so, unless the potential JV partners pay up or takeover, ELM still needs to raise another AUS$15M more or so

i had 140,000 shares at 16.5 cents and when the penny dropped ELM had to raise maybe $10M to $15M more and the selling wouldn't stop i dumped most at 15.5, held at 12 and dumped the rest up to 21. i ended losing $121 rather than making the $5,000 trade i was seeking

i feared to buy at 12 cents although my reasoning was saying Dingyi have to step in & buy up to 20 cents. why?

because if ELM was allowed to fall to 10 cents, Harlequin could chip in more funding and dilute Dingyi to death

if Harlequin chipped in $9M more at 10 cents then they would double their holding and dilute Dingyi out

that is why Dingyi must buy and keep the share price at 20 cents because Harlequin & their mates can kill them off

imo