What I am hearing is that some people are not happy the A40 administration process will be carried over until 11 December meaning we are not going to see a resolution to the A40 debt situation until Q1 next year (at the earliest).
Therefore, with increased uncertainty with this specific corporate play and total capitulation of the spod market (short term), there is very good reason to bet against GXY. Which is what we are seeing from many players at the moment.
Don't worry, in 2 weeks time we will see these same people turn their attention to PLS and start to make assumptions about the success (or otherwise) of their cap raising.
Until then, us Galaxians need to assume our crash positions.
GXY Price at posting:
94.3¢ Sentiment: None Disclosure: Held
