The only real winners outa this are the underwriters who have been guaranteed a minimum fixed number (10 mill?) at 10c, so higher the sp now, the fewer the overs and the underwriters STILL get their lot at 10c and WHE raises more cash ... but at only 10c.
Unless there is something behind the scenes we dont know about and to come AFTER the issue dust settles, then this has gone bit ahead of itself for mine relative to peer group.
On the other hand if there is something brewing behind the scenes then they would be in a hurry to get the boys set as well in time. Price action is consistent with this latter thought IMO.
Nevertheless decided to actually sell another tranche to freecarry the rest and will transfer proceeds to one which looks just as sexy to me and sitting at about 2/3rds cash backing after a techno deal for part of their technology with the yanks for CASH and holding all the ground around the NT's previous highest grade producer and about to drill (???).
Might look to replace WHE part sold post ex basis later cos L/T WHEhould be a winner (?)
IMBOOC
SO4 Price at posting:
22.7¢ Sentiment: ST Sell Disclosure: Held
