Tuesday, November 18, 2014

Tick Tock on Reef Casino Clock

Shhhh! Have you noticed how quiet any Aquis news has been recently? Not even a whisper from Nick Dalton at the Cairns Post. Which is curious because in just three (3) days time is the Tony Fung deadline for his probity approval else he will pull the plug on Aquis and walk away!

So what is the typically thin ASX market trading in outstanding Reef Casino Trust stock telling us?


There is actually still reasonable trade relative to historical levels with sound support on the buy side above $4 and no indication of a panicked rush for the exit. That previous big downturn was when the ACCC raised concerns. The Loose Change hedge fund took small advantage of that always unlikely obstacle but currently has no interest.

Note: To clarify. The offer closes on November 28 unless extended. November 21 is the date indicated to update on status of conditions and extend the offer period. Should he decline to extend the conditions could still be satisfied within the subsequent week.

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