The chart doesn't look (to me, but what do I know) as if the overall fall from ~8.4c to 6.3c forms the beginning of a downtrend. It just looks as if for the last couple of months the price has been tracking sideways at around 7c, with a couple of spikes up and down. Consolidation like that wouldn't spook me too much if I was trading on technical considerations only.
I could imagine Simon Finnis feeling somewhat frustrated (particularly with my email!) if the price spiked up just after negotiating a placement at 6c.
Chief Joseph: 5.9c? Surely no-one would want to get out at a loss, even if the volume thus far has only been a fraction of the 24m shares? I'm guessing that you're joking, but if not, my (wild) guess is that 6.1c is the lower limit, assuming no black swan news.
Hercules: I'm not experienced with typical placement terms, as to how many shares Bell Potter might have got for free. It might be in an announcement? That sort of info (fees) can give good info about how the brokers view GRM's prospects. BTW, I'm curious as to what mechanisms there might be for companies to steadily trickle new shares into the market (rather than a flood) so as to reduce the trauma, overheads and price impact of raising capital. Maybe there's too much red tape in the way of that kind of flexibility?
JBMurc: Commiserations re 8c, and all the best for bargain-hunting today. What did you mean by "I've got many keen investors looking..." Are you a broker?
Aman: Well done, hope it works out. The prospects are certainly exciting enough IMO.
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