LionGold reducing its holding and in particular on the day after the announcement when the share price capitulated could be viewed as a lack of confidence given their earlier sell down commenced in July 2014 according to their notice on 12th February 2015. They have certainly taking a bath on this given they bought in at 7c and 8c, their was a similar spike in price when it was announced they were investing $10million at 8c/ share which was followed by a familiar decline in sp. There was speculation around that they would make a takeover bid having taken another $8mill placement at 7c in December 2012, but alas it was not to be as ELM deal for $100mill came into being in April 2013 and the rest is history. That reminds me of a Split Enz Song from 1987.
That's All I Have To Say About That- Forrest Gump Quote
DYOR My thoughts and ramblings only
Add to My Watchlist
What is My Watchlist?
