Something is going on, what exactly, who knows. ASX announcement...

Something is going on, what exactly, who knows.

ASX announcement dated 26/05/2016 states 3,865 shareholders hold an unmarketable parcel which they define as being a shareholding of 13,888 or less. Obviously they don't all hold 13,888 shares, so let's assume an average of 6,000 shares. If you multiply that through, you get a pretty substantial number of shares needing to be sold on market.

On the "Closing Date for receipt of Share Retention Form", you get a massive volume spike and price surge.

We also know that from the ASX release that "Alliance intends to sell your Shares through the Facility as soon as practicable thereafter". So there's a motivated seller in the market and suddenly there's that unusually large buy order sitting in the queue waiting for the seller

I'm inclined to believe it's real. What exactly they see in AGS, don't know. Cash? WA tenements? There has been a bit of action with WA focused companies recently. Something else?