profit margin of $980/oz au, page-6

Hi Damian

Actually, in my experience, for some reason the SP seems to hold up really well in the lead up to the close date of any SPPs. Not sure why this happens, but strangely, it always seems to fall in the days after acceptance. Weird eh.

Of course, I'm not saying this will happen for KOR though.

I'm sure there are traders who buy when a suitable SPP is announced then sell after the closure and take up short positions. Money for jam in my view.

Also in my experience the SPP is a last resort financing for companies which cannot raise institutional or SI support. Obviously this will not be the case this time because they have Baker Steel on board.

It will be interesting to see how it pans out for Baker Steel over the coming months.

Cheers