Keep in mind there is still an insto/retail component to this raise (not just the IGO part). Shorters can cover using the fresh shares issued via the current raising and some long suffering holders may chose to sell into the strength.
Not saying there won’t be an uplift that can be traded but as a long term play there is a lot more risk than the reward on offer post dilution vs plenty of other opportunities in the market in my view.
NCZ Price at posting:
15.0¢ Sentiment: Hold Disclosure: Not Held
