why bother investing in rey?, page-3

I have traded this stock a number of times, and relative to those prices it looks like a steal. However, there is a looming capital raising. The price at which that is done is the big question. In this climate i cannot see it anywhere above 11c (best outcome). The problem with REY is there is no news flow, its just plotting along which evidently has an impact on its share price in this climate. There is no support on the bid side, if one SI decides to dump and cut losses before June 30 i wouldn't be surprised to see this fall to 6-6.5c.