The share price has taken a plunge since the placement took place. Just remember the share price was above 2 cents prior, and now have over $5 million in reserve. I would expect the share price head above 2 cents once again within the next month or so, and well above this if Santos JV occurs.
Mailisu#6 might surprise on the upside, and this is an opportunity for directors to accumulate in the mean time with a supressed share price, while uninformed sellers miss out on the upswing all together.
Hold onto your shares, and if you have small holdings in CIG, this is an opportunity to top up and reap good gains in future, because the share price has taken a battering, and recovery is on the horizon.
CIG Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
