1 trading day left before the Ex date.
Major support at 2.7c last few days.
Ran some numbers to see profit/loss figures for those buyers at 2.7c & taking up their rights at 2c (ignoring the options because they are unlisted , small number & well out of the money....yet they still have some value)
Say...700,000 at .027 = $18,900 + 100,000 at 0.02 = $20.900.
If the SP drops to 2.6 this 800,000 parcel is worth $20,800....Just break even.
Anything less is a loss .
At 2.5c this parcel is worth $20,000 ...A loss of $900 or 4.3%.
At 2.4c....$19,200.....A loss of $1,700 or 8.1%
No one knows where the support will be after the Ex date , but it may be wise to wait to hear the market's verdict , because buying at anything under 2.6 post rights will be better than chasing it at 2.7/2.8c.
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