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10:27
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Originally posted by Scarpa
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We are in trading halt so this should not be seen as a downramp post. I suspect the price will be the last 10 days VWAP, so that takes the price to around 6.5 (it is how I have seen a lot of CRs priced and some take a month VWAP but doubt it would be a month here since things have changed remarkedly here in the last month). I suspect a quick retrace before another kick up. Lets hope the strategic investors is someone who will hold (hope it is not Patersons) onto the shares rather than a 'dumper'. I suspect they could be doing the CR now because the next drill comes from an area where Li hasn't been as historically high as other areas IMO, so best for them to do the CR now. Suspect the most prospective area remains the one they recently announced on.
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PLS C/R and SPP was 11% discount to 5 day VWAP - obviously any number of different calcs or metrics could be used - given the exponential recent rise in the share price I would think a premium to the last traded price would be wishful thinking
