An intuitional placement at 29c for $12m, just over a month ago, when the discovery had already been confirmed. So they bought based on the expectation of further good short term news flow. They got the big announcement today.
A profit of 20%+ that can be locked in, for holding something for a month, it's pretty much what the game plan was for some of the players in the placement.
Longer term though, this is going much higher if the AWE experience is anything to go by.
WGO Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
