A number of possble scenario why the sp closed at 2.47 prior to the trading halt. For the sp to close at 2.80 to 3.00 (as it was some 3-4 weeks back) would make the minimum placement price of 2.20, a discount of around 25%. It appears that the last couple of weeks' sp weakness may have been orchestrated(?) to accommodate to the placement price.
Alternatively, some insiders (are you one Gob?) may have sold down with the intention to buy back at a discount.
Not too long ago AGL bought 30% of QGC at around $1.50 per share and they have almost doubled their investment.
The new AOE placement only account for about 10% of the total issued capital of AOE. What is an attractive placemnt or SPP price for new and existing investors?
Would $3.00 or less 10% of that attractive? Perhaps not if you look for short term big returns like AGL.
For me I, and perhaps Nick Davis or New Hope Corporation would be more than happy to pick up more shares at 2.20.
This is only my view. DYOR.
Plat8
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