Disagree, the POG in AUD terms is more than good. If you asked alot of people if they thought POG would even reach say $2,250 a few months back many would have laughed. (Why do you think the board put in place a protective hedge at circa $2,025 for production through to June 20)
The only way this will move is once funding is released with the terms and we get the attention of smart money in addition to Delphi who will be more than happy to wipe up these Micky Mouse sellers at 1.1
What MAY BE a possibility (emphasis on may be) is Maca being issued with some shares up to our placement capacity in conjunction with funding finalisation. This will then make Delphi have to buy up on market shares in order to get back up to 20% due to some dilution if they are keen to push holdings back up to limits before formal T/O offers. This will be beneficial to Maca by giving them some potential upside in future and reduce the cash that will need to be paid out to Maca by a few million??? Can't remember how many million shares we have left this year under the placement capacity without SH approval??
This is of course wild speculation but will at least provide a reason as to why the SP had been trading in this range for some time and explain some of the capping that has been occurring in trade and games played on open and closing auctions from time to time. So if capital is going to be raised unfortunately my feeling is that common retail SH'rs will miss out and deals will be made with commercial players instead.
Alterneively we get funding and no shares issued which will be fantastic and should be received well by the market.
Again I reiterate this is just my take of possible scenarios and could be completely off the mark or hit the nail on the head.
