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  1. ds
    7,131 Posts.
    I think the $10m will still be raised but it can be done as part of the 15% available without a special general meeting. The specific resolution was to give them ultimate flexibility ie raise $10m and still have the 15% available if needed.

    In the end I think many believe the stock was suffering from the possibility of an issue so some buyers have been holding off to see if they can get a cheap entry.

    In the end there appears more demand than 'possible' supply.

    I think if the SP was 20-25c there would be no problem as $10m would be minimal dilution and existing shareholders would be happy campers. Whatever happens they can issue around 100m shares under the 15% rule so they can raise enough cash to keep going.

    They appear to be looking after us by squeezing supply off for a while driving buyers into the market.

    I'd love to see OPL given a mandate to place the 10m at say 10-15p on a 1 for 1 basis to all those who buy on market in the next month!

    I guess there is not that much demand . . . yet.
 
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