I still cannot understand the significance of the Paradigm 25c placements, multiple holdings of which were used to pressure the share price down over many months and the moment there was only the one account left..... *surprise* capex blowout to ensure the share price will never recover.
If the mining study was well advanced, one could wonder why this wasnt put into a trading halt many months back on indications od a cost/capex blowout instead of the constant delays and waiting for than final seller to get the SP to 3c.
Is that Capex real? How can a 460% increase happen overnight? Maybe this new figure is as close to the truth as the $63m figure was, and merely used to pike the SP into the ground after a planned multi-year selldown?
It really would not surprise me to see a placement coming hot on the heels of this at a very low price. But what can you believe? Exploration this year was on, then off and now apparently on again!
But it could be worse, I have seen companies deliberately put into administration so the 'right sort' can be issued shares at one tenth of a cent instead of 1 or 2 cents.
But I guess that may also be on the cards in two years time. It sure would be a sweet deal to get 2 billion one tent of a cent shares in OVR in two years time in a 'recapitalization' just before the zinc market takes off!
I maintain; steps need to be taken for the retail end to protect themselves from potential predatory institutions (Paradigm?/Glencore?) and 'well connected' sophisticated investors. I have seen this scenario play out before and dilution plans are enacted glacially over a few years.
Not many respondents from the first post on this thread.
MQG - you got taken to the cleaners on TGS as did I. Can you not see the writing on the wall? You too need to act.
OVR Price at posting:
1.9¢ Sentiment: None Disclosure: Held
