Then I would hazard a guess, if Annuals are released tomorrow, today is the last day to buy to be deemed an "existing shareholder" to allow participation in the 4p placing and 7p warrant deal. Hopefully Annuals come with detail re plant and ZEMA submission for a good day on the markets.
Hello stranger! Good to see you back Shwmae. Hope you've had happy hunting elsewhere over the past few months. Think/hope you've got a good starting point here now & that you squeeze a decent return out of this one at last!
Agree that people will most likely be looking for a position from which to benefit when the placing is announced. Don't have time myself to chase 10% up or down, but if people do & make a decent return, good luck to them. Until we get some decent projections or revenue, we'll always be vulnerable & doesn't make life easy for those that don't trade. Would be nice to move away from the 4p base.
I do believe it is PIs selling that is causing the sp to drop back. It was always vulnerable when AB announced an open offer at 4p. Nobody can force the sp upwards if a PI is prepared to lock in meagre 5-10% percentage gains.
What AB is doing though is smart - he is basically giving existing PI shareholders an opening to gain an advantageous position. That will motivate PIs to buy now to gain a seat at the table, to a level that the PI wants to achieve in the placing also giving them an option for the 7p warrants closed to all others, and to underpin the sp (why would a PI sell below or near to 4p?).
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