My thoughts are the SP will remain at less than 13 cents until the rights offering has closed. This will enable smart money to maximise their issue from the offering by dissuading retail investors to participate meaning smart money can apply for additional shares at 12 cents.
Once the rights offering is complete and smart money has their fill at 12 cents, combined with news of progress, the SP should head north again fairly easily. Right now unfortunately there is motivation for someone with deep pockets to keep it low.
Key takeaway? Should be able to buy now at less than 13 cents but once the rights offering is complete, good luck getting a decent sized parcel. This is only my opinion.
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Last
50.5¢ |
Change
-0.005(0.98%) |
Mkt cap ! $275.1M | |||
| Open | High | Low | Value | Volume |
| 51.0¢ | 51.5¢ | 49.5¢ | $596.3K | 1.187M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 185457 | 50.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 51.0¢ | 7957 | 4 |
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| Last trade - 11.33am 17/07/2024 (20 minute delay) ? |
| DXB (ASX) Chart |