RE: Anr23 Oct 2017 12:00
Nice cherrypicking. If I were to do the same then:
"In addition, Altona has been running on fumes for a while now, not helped by a recent claim from a former director, but things started to turn on 13 October once it announced a placing to raise �210,000 at 0.05p. Since then, the Twitter troops have been in full voice and the share price has rocketed to a close on Friday of 0.65p more than ten times the placing price!
It almost goes without saying that I don�t believe that the value of these coal assets has suddenly jumped significantly to this extent as the company doesn�t even know how it is going to get the stuff out of the ground yet and it is going to need some more funding imminently too.
It is worth noting though that this goes to show the power of getting the right people in on placings like this as getting say 15-20 �influencers� in at �5,000 a pop can be worth their weight in gold, particularly if it enables Altona to raise some more meaningful funds at say 0.4p or higher.
It reminds me of the MySQUAR (MYSQ) placing in April at 0.85p followed by a massive ramp which facilitated a further placing at 3.75p three months later in July (aided as well by the company�s own ramping of its revenue numbers as well covered on this website."