My take is that he's probably crystallising a loss for tax purposes on some of his previously held shares. We all know it's an ATO no-no to do a "wash" trade, i.e. sell shares to crystallise a loss, then buy the same shares back cheaper the next day. But as far as I know, there's nothing in the "wash" regulations saying you you can't buy the new shares first, then sell some older shares later to crystallise a loss and offset a capital gain. ... just sayin'.. but maybe I'm wrong.
SGO Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
