Hope it returns to its old home $2Did someone kick the dog? It actually moved, I kid you not!
But how far will it run? On past experience, it won't go far away, it always returns home...
Unless someone entices it with some news
its happening..
another 3 million shares went across XT..
dont be too concerned, SBM are doing it the way they want to..
No Im not... heard it all before but SBM do own 10% already so I imagine that would make it a whole lot easier.Are you sure there is a takeover in the air??
Fair enough. But surely there would have to be some sort of official notice soon?
How far off do you think it is?
EDIT: by the way wheres chicken? you think he would be right onto this!
Feng,
the price has been capped for a long time now. It was also supported at 35c.
There has been some level of accumulation - if you remove volume out of the equation for all trades below 35c since 9th Jan (to remove the ultrahigh volume that set the floor back then), you are still left with approx 229M shares that have been exchanged in a very tight trading range between 36c and 44c.
The breach of 35c on big volume should have posted as a big red candle after such a tight trading range.
This is an unsubstantiated theory - one or more entities have been accumulating on behalf of an interested party to prevent the 5% ownership notification rule from applying (we don't want to spark interest in the stock while we're trying to buy at low prices).
We are now seeing the transfer of these shares to the interested party. I believe an on-market buy up has also occurred, prior to a market announcement.
BDG have no other news apart from what is known - drilling the high probability lines in May.
Just a theory
Feng,
the price has been capped for a long time now. It was also supported at 35c.
There has been some level of accumulation - if you remove volume out of the equation for all trades below 35c since 9th Jan (to remove the ultrahigh volume that set the floor back then), you are still left with approx 229M shares that have been exchanged in a very tight trading range between 36c and 44c.
The breach of 35c on big volume should have posted as a big red candle after such a tight trading range.
This is an unsubstantiated theory - one or more entities have been accumulating on behalf of an interested party to prevent the 5% ownership notification rule from applying (we don't want to spark interest in the stock while we're trying to buy at low prices).
We are now seeing the transfer of these shares to the interested party. I believe an on-market buy up has also occurred, prior to a market announcement.
BDG have no other news apart from what is known - drilling the high probability lines in May.
Just a theory
stokdog posted this on hc, hope he doesn't mind me putting it here....it is consistent with your line of thought:
Ive said it before and i'll say it again. I think JP Morgan have an agenda with sbm and i wouldnt be suprised if the 2 large XT trade parcels relate to JP Morgan assisting SBM in their attempts to manipulate and manouevre the shares into SBM and RCF hands which will leave JP Morgan with a larger stake in a merged entity.
I speak of these two trades especially.
22/05/2007 04:27:29 0.33 6240809 20594669.7 XTSPOS
23/05/2007 12:15:47 0.33 3000000 990000.00 XT
Announcement is out.
Change in substantial holding, JP is off loading the track.
Can find 6m cross trade on the list as a sell on 22nd May, but can not find 3m on 23rd.
Also noticed some transfer out transactions on the list, does somebody have any idea about it?
Announcement is out.
Change in substantial holding, JP is off loading the track.
Can find 6m cross trade on the list as a sell on 22nd May, but can not find 3m on 23rd.
Also noticed some transfer out transactions on the list, does somebody have any idea about it?
Sorry Feng can"t answer your question re; transfer out transactions.
This may help though, on ABC Business this morning
JP MORGAN listed (amoung others ) Bendigo Gold as a possible take over target
thanksn juiceman.
tried to find any link about this news, but found nothing. Can you post the link?
We may need patience to wait for the take over.
Also noticed the ownership on BDG's website has been already updated, but it is as at 30th, April, 2007. The top 20 holders are still holding about 51%. Because don't have the old list to compare, can not find out any clue about JP's 2% change goes to which party.
yeah, we are playing guessing game, only time will tell.
There is no link to post
I saw it on the TV this morning 10 am ABC business program.
They were interviewing one of JP MORGANS analyst"s and Bendigo Mining was 1 of 10 company"s listed by them as possible takeover target"s.
Hope that help"s
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