Price will be unlikely to roar whilst there are new shares issued which need to be turned over AND there is potentially 145mill shortfall of shares looking for a home. As a sophisticated if I wanted shares I can approach the company, no need to buy on-market and push the share price up. Once the overhang and finalisation of shortfall of shares are sorted out, it's difficult to see enough interest to overcome the resistance.
$5.5m raised from rights issue, page-28
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Last
0.3¢ |
Change
-0.001(25.0%) |
Mkt cap ! $6.172M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.4¢ | 0.3¢ | $93.83K | 24.69M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 48 | 43730050 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 11827084 | 14 |
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| PAB (ASX) Chart |