Angry! I am angry!!! I have followed these shares for a short time (months) and decided to get in today.. Would you believe it was just minutes after annoucement on Wombat. I thought this a trigger to get in (did not read fine print on Rights Issue (My Fault - lesson here!) and was then confronted with incredible "depth of sales" I have never before seen!! People trying to sell well under the Bid price!! Short answer plenty bailed out of the sinking ship and I thought through consequences whilst watching price dive!! On the positive - Thought Panic selling will soon stabilise when punters realise it has been over done and that if all take up offer there will be no dilution and the Company will have $10m in bank to further what looks like good potential discoveries! Then Reality kicked in!! Negative thoughts - With the Sp plummetting to 1.1 and maybe further why not preserve capital get out and live to fight another day? Why? Well if Sp goes anywhere near 1c who would ever bother to take up Rights which are not even underwritten?? Crazy stuff. This would certainly mean no new funds to company meaning no new drilling so Sp could run further south perhaps halving my investment.. So I am out. Perhaps one of the shortest holder of these shares!! With time to further reflect and noting other poster comments the Directors seem to lack basic business sense to put out todays annoucments and expect market support. The shame is that if they have finally after decades have a "good thing" they have cooked it with what seems lack of business acumen.. Or on the other hand ...???
LKO Price at posting:
1.1¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)