I am very surprised there was not really much selling considering the placement was at 5c
Support at 9c was very firm churning through about 5 million units in a 4 day period about a fortnight ago. I believe that the majority of sellers were not the placement holders as well. This means that only 1 million units from the placement got filtered back. Well done to the brokers that made this so tight.
My only issue with this stock is that there are 200million options floating around which is given to the underwriter for the $5m placement.
This company will move if there is a sniff of good results coming up.
GML Price at posting:
9.3¢ Sentiment: None Disclosure: Held
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