i think the reason for the recent rise would have come internally. there is no way management would have wanted to announce the placement a week ago, at which it would have been offered somewhere below 1 cent. the market would have reacted very negatively to that.
hence, some buying pressure is put on (possibly expect a change of interets notice soon), go to financier asking for 0.20 placement (effectively at 1.3 cents), release it with some news regarding an official change of direction for the company, and an overview of tenemnets and company activity, mention the words 'iron-ore' a lot (which has again become a hot commodity), and hope to god your placement is heavily oversubscribed
pretty simple scenario really
suspention of trading until 31st of july, page-14
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Last
16.0¢ |
Change
-0.005(3.03%) |
Mkt cap ! $27.95M | |||
| Open | High | Low | Value | Volume |
| 16.0¢ | 16.0¢ | 16.0¢ | $5.716K | 35.72K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 14023 | 16.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.5¢ | 6983 | 1 |
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| Last trade - 10.52am 16/08/2024 (20 minute delay) ? |
| SRT (ASX) Chart |