depth, page-40

Yep ! Now back to the price they last raised money @ in early November 2017. Some 7 months ago. Despite all the good results in the interim. Tax loss selling ? Profit taking before the financial years end ? Neither accounts for the current price. It is lack of demand. Pure & simple.

The program trader/s are taking full advantage of this. As i have stated before i would not be surprised if SBM are the ones churning this back & forth simply to keep the price in check. They are the only large shareholder on the register that is likely to make a bid at any stage. Management, Hampton Hill & associates or Ariki Investments are very unlikely to make a play for this.

It would not be the first time i have seen this happen. I remember back in the days i held Dalrymple Resources ( a former Josh. Pitt company ) They could not work out who was fiddling with their share price. Lionore was a holder & the obvious candidate. But strenuously denied any involvement. A registry search by the company revealed numerous offshore nominee holders which were impossible to track down. Then low & behold Lionore makes a bid after having spent months book building a position & denying any involvement at the time.

Just because a large holder makes friendly overtures doesn't mean they are unlikely to go behind your back.