IMO the SP drop has nothing to do with effectiveness of PPL1 .
If you reed the directors report on page 9 the PAA had entered into building contract for new laboratory(expansion)for amount of $1.6M. At the end of June Q they had about 2.6M left so they would need money soon therefore consolidation and probably subsequent CR. Maybe that's why they have slowed with trials. The SP is just being manipulated by those responsible for future CR same as they did last CR. Remember two 10M blocks of shares capping the price before last CR and then once the CR was done @ 0.8c the SP was pumped to 1.6c allowing the CR participants to profit.
Looks like it's the same scenario this time around as well. I just hope RA has learn the lesson last time and they should change( fire) ASAP their corporate advisers and people( broker) responsible with upcoming CR.
The time will tell. Good luck everyone....
Ann: Consolidation/Split - PAA, page-46
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Last
18.5¢ |
Change
-0.015(7.50%) |
Mkt cap ! $90.96M | |||
| Open | High | Low | Value | Volume |
| 20.0¢ | 20.5¢ | 18.5¢ | $106.2K | 550.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 714303 | 18.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 19.0¢ | 26750 | 1 |
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| NUZ (ASX) Chart |