It probably doesn't matter snake - the price will typically trade down to or below the offer price at some point anyway. Anyone fortunate enough to have a crystal ball to predict this raising (as obviously nobody except management would have known about it till the trading halt ... share prices always fall when good drilling results are announced) would have sold out in the 40's in readiness for buying back in.
The announcements of 3 sets of good results to pump up the share price and let those successful crystal ball owners sell out, literally the day before announcing a cap raising is so unbelievably disgusting it is enough to make anyone's blood boil.
What a remarkable coincidence that 3 sets of positive market sensitive results (which I understand are meant to be released to the market as soon as practicable after they are known in order to ensure efficiency) happened to become available literally one day before announcing a cap raising.
I will have to get out my old probability and statistics books out to work out the odds on that one.
IGR Price at posting:
33.5¢ Sentiment: None Disclosure: Held
