Its just logical that placement stock that was done at 40 cents will be belted out the door. Obviously management werent very professional with where they placed the stock, or the choice of brokers in the raising. 20 million shares placed, and it looks like the majority of that will have come out. Drilling has started at Torrens, but you would expect 3-4 weeks drilling, 3-4 weeks in the labs, so results mid-late December at the absolute earliest. I'm keeping an eye on this to pick an entry, I believe in the projects and definately want to be there for Torrens, but thats some way off, and you have nuts belting out 20 million shares they got at 40 cents! Also dont forget there is a second line to the placement for another 10 million shares. Extra shares on issue also makes it harder for the stock to rise as more sellers belt out stock into any sort of decent results that come out. Theres only one question with this stock, and thats when to buy back in! My bet is that we have a few days left before a bounce atleast, and plenty of drifting between now and the release of the Torrens results!
ARE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
