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The poor innocents that were buying at 0.14 and 0.15 last week after share issue news broke have now seen their purchases drop by 20%.
A hard lesson.
No worries long term though if news breaks on Peru drilling.
Many will look to buy at the 0.1p price tomorrow morning.
Tranche2 could be released after Peru drilling news update and there may then be a clamour for shares. So tomorrow (may) be the best time to get 0.1p stock.
The placing price is set/advised by the companies broker. They have to be set at the best price that the broker believes will get the new 2.5 billion shares away without the broker having to nurse a lost - at least in the short term.
Tranche2 shares cannot be forward sold.
Research indicates otherwise.
hTtps://www.fieldfisher.com/en/insights/forward-selling-of-placing-shares-leads-to-public-censure-and-fine
FarawayFromHome, Tranche 2 is a share issue that would be funded by the broker/banks until they are put onto the market if an agreement is approved by an EGM on 10th March.
Once they are on the market they will be be purchasable by anyone that wants to buy shares in the company.
Its unlikely you will be able to buy shares under 0.1p before tranche2 hits the market despite what some have suggested here.
Caveat is if the tranche2 does not get approved.