Modula I agree with you. I guess that's where the seismic will be very important in determining where we drill next. Ungani North testing with the new rig will be interesting also.
Moneymaker1979..it's a good buy. It just depends how many shares you get for putting up 15 k. I think it's obvious that it will be scaled back heavily. Anyone who was holding as of the 7th of August can take up the offer even if they have sold their current holdings.
"Participation in the SPP is optional. It will be open to shareholders who were holders of fully paid ordinary shares in the Company as at 7.00pm (Sydney time) on 7 August 2013, and whose registered address is in Australia or New Zealand."
It's my opinion that many holders have sold stock at higher prices and will be hoping to purchase back what they sold via the SPP at $1.65. Good luck. I'm sure many holders would of thought of that one.
I also think some of those sophisticated holders would of been selling down and locking in some easy profits. No way would all of them of kept holding when they can make some easy cash a day after their shares are dispatched. So when you assess the selling pressure and how the price has held up..you would have to say 1.65 is a great buy. I have been buying at current prices because I'm not confident in getting the shares I want via the SPP. I will probably go in for 5k's worth and see if I can get them. Not confident though.
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