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Ann: TMT Strengthens Cornerstone Support - $11.5M Placement, page-74

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Startingagain

1,785 Posts.

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29/05/23

21:57

Post #: 68023517
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Originally posted by sabine: ↑

Volume maundering along today despite those keen applicants for 28c level last week.
But Wednesday the big day for - was it around 41 million? - new shares to arrive on the register.

What’s the bet for price direction after that?

I’d like to think *UP* …

I also think that, logically, ‘strong hands’ may try to hold TMT down for a bit to see how many new shares (if any) get shaken loose (and to buy them as cheap as they can), and then we’ll see EPA approvals, NAIF grant and a formalisation of the MOU with TATA taking us forward into FY’24.

Does anyone with more experience of how these kinds of raises traditionally play out have alternative views?

cheers

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I’m expecting it to pull back to CR price point and potentially dip below that momentarily as it gets flipped by others other than RCF who participated in the raise opportunistically for a quick buck

Last edited by Startingagain: 29/05/23

TMT Price at posting: 31.5¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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Ann: TMT Strengthens Cornerstone Support - $11.5M Placement, page-74

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