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Someone at another site reckons PDN had declared it was was looking for takeover targets .

When a stock trades 300 million shares in half a month (half the scrip) it isn't traders - it's corporate and whoever it is is out to beat the traders for for the free carry .

IVA, Xstrata, EXS, CDU or PDN ?

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I think you are right. I hadn't realised the volume was quite so high, so it's likely to be corporate. Even corporates have their price limits.


At 4 cents they are saying it's worth over $20M. Someone has lost their head! Also GCR is up over 20% this morning for ~$18M. What's going on?


And I missed both :(

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It is for the reason that 'they' must announce after accumulating so many that I believe they will announce their intentions soon . If a sub holder notice is given first traders will add another 30-40% on immediately - defeats the purpose if the purpose is discount takeover raid . If they want the best price possible then a blocking stake is grabbed quickly then announce the intention / offer .



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