OEX5 Dec 2018 19:46
Trouble here now with this arbitration,just how long will this take and what will be the result.
Without positive news this is drifting 5/10% daily,the MMs mark it down quickly with a few sells then keep it low despite decent buying,which then doesn't really shift the price.I do wonder if this is being shorted,but in any case the stock was trading around the 0.2 mark for sometime,and with the year low at 0.13, I suspect this will be sold down.
I looked at most of the RNSs last night,the company hasn't made any progress whatsoever in 2018,just read the Chairman's statement last November,but what is very noticeable are the awarded 0.19 options,and quite a few at that.
Interestingly it's also gone very quiet on twitter,it was being ramped to high heaven a week ago,Align Research for one were forecasting 3 times upside,well I'm sure they've sold out on the spike.
Cambay may be a prospective asset,but theres nothing going on there apart from the arbitration with the joint partner,and the trouble now is this could go on for a considerable period.
Evidently there do appear to be quite a few offloading,and no doubt that will continue until anything positive is reported by the company.
I believe I said this was a pump and Dump last Friday,well now certainly looks that way.
Feel sorry for those that were spiked above 0.40,it's easy to get suckered into a ramp fest,I guess averaging down is one option,but certainly wait for this to settle,.