Its not just shareholder structure.
Its more the fact HAV has never done special deals with brokers or "sophisticated investors". They have had to pay same price as regular joe.
So what happens the stock gets limited coverage or no coverage from brokerage houses.
Example
Broker A gets a placement at 20cents to them and a couple large individuals while stock is at 25cents.
Broker A has an analyst look over it writes up a glitzy report. Before report is released to the clients say 5000 individuals the brokers spruik the stock to there broker mates at same brokerage house. They put a few large clients in. 100k to 200k parcels. That quickly adds up if they have 5 clients each from five advisers.ie 5million shares.
Analysts release report thru to clients emails and we have another 5million shares wanted to buy.
Ask this question if a group wanted 10million shares were would the price be.
Not only that with all the pending news theyd be pushing the stock.
Once u have volumn going another wave of trend buyers pile in.
And there lies the problem. No coverage from mainstream brokers.
Bells Hartleys patterson citi comsec cmc aus stock plus another dozen u could list.
Only state one puts an analyst report out and they have no clout.
The share structure look at PEX. Directors hold shite loads and that on back of resource and a deal went bang and is still up
Look at CIA okeefe holds majority stake and it went up 5 fold and remains up
Eventually value buyers will stumble on this tired old stock.
The precursor to a re rating
COB cobalt testing
PFS release and a bid for kalkaroo.
I dont believe north portia will be a price mover. Will be seen as a ho hum it might make a few dollars.
From what i understand portia is paying its way and paying the costs of running the company day to day.
Proof will be in the quarterly as to how the cash burn is going.
Personally its been a disaster 12months and my money put elsewhere would of been better off. Ie PEX CIA BLG APX.
Tax loss selling will start in earnest this next 2 weeks so may see a little pressure across the board.
Cheers
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