I expect they got a fair chunk in the insto placement tranche....

I expect they got a fair chunk in the insto placement tranche. Keep an eye out for selling once the retail punters get their batch at 20c.

Another good guide is to keep an eye on the short positions as this stock has been a great play thing for the men in black recently.

Coincidentally when the share price approaches 28 / 30 cent region the short positions go through the roof then when it trades back around 24c / 25c they all all get closed out.

as of yesterday most short positions have closed out so a run towards 30c is on the cards if history is any guide,
http://www.asx.com.au/data/shortsell.txt