In the UK, if you purchase Level 2, you wil be able to see the...

In the UK, if you purchase Level 2, you wil be able to see the buy and sell ladders for any stocks. In OZ some brokers will allow you to see the same information under a depth enquiry in real time for no cost.

I have just had a look at the 'after close' buy ladder for Norseman in OZ. Where recently Norseman normally has an evenly balanced set of buy/sell ladders with about 40k to buy/sell at each price point, today there are unfilled orders for 350k shares at 24c 100k at 24.5c and 100k at 25c. During the day the numbers were similar but higher.

I also note that today 74,998 shares traded at 25.5c which was 1.5c higher than Thursday's close.

My reading of all of this is that everything comes down to whether Norseman produced a decent quantity of gold in June and if not are they doing this in July. Trading volumes have been very low lately, indicating that nobody really knows whether they will do or die. The high bid volumes that popped up today, although not filled, indicate to me that someone is willing to give them the benefit of the doubt. This person was not however confident enough to chase them up. If Norseman does deliver 20,000 ounces in the September quarter I expect the SP to at least double on that news. Untill then NGX/NGL remains a risky stock.
K