I said yesterday it seemed strange that they would put a trading halt on just for an update on the laterals .... and then the share price did not in fact go up much at all on this news with sustained "capping").. it had risen last week including one very large volume and price spike .. hmm.
If they did the placement without the preliminary good news on the laterals yes the share price may then fall further .. and also they would look pretty silly.
But for one to follow the other by just a day speaks of it being by design as you suggest. Perhaps they were under some sort of pressure with regards to the deal?
All will be revealed in coming days.
H
ESG Price at posting:
72.0¢ Sentiment: LT Buy Disclosure: Held