april 1 Well I have never seen anything like it; a company has a rights issue with no other news announced, and its shares go UP 13% on $21.9m turnover. Financial theory just went out the window. I hope Ted doesn't use today as a lesson in finance - up 13% with a 1:6, perhaps up 40% if it had been a 1:2. I am still trying to work it out, but then again today is of course April 1st. Perhaps its just a giant trick.
Anyway I stuck with HDR after reviewing their recent presentation and Woodside's Africa presentation that noted that they are able to detect hydrocarbon indications on their 3D seismic data.
It looks like an interesting year.
Geos
Hold HDR, AVL, EQR, PSA, COH.
HDR
hardman resources limited
**okay fess up!! who dumped on open?**, page-8
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