The ASX is NOT unique in restricting foreign investment in SPPs, and other CRs. As an US "investor" it is vital you know that. Also, this is not some one-off F off to investors, it is the law. Finally, as a US investor in Au you must have come across the same SPP situation in Canada, and perhaps even in the US. This is an obvious, clear, long-time law every investor should know. Therefore "millions" (I wish) investors were NOT "blindsided," but are buying on market as I write.
The sp drop is a simple effect of market dynamics which management, especially in a non-revenue generating exploreco morphing into developer on the way to being a producer, takes into account -- with the bookrunners -- when determining the discount to the last price. Again, standard practice. (In fact, info can be garnered by a speculator when examining the size of the discount.)
In conclusion, your lack of simple knowledge (btw when investing "100,000's [sic] thousands [= $100,000,000!!] of my own personal AU dollars..." reflects poorly against the sum you cite. Therefore, this is NOT a post but trolling.
OV
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DeGrey F’s Foreign Investors and F’s themselves, page-3
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Last
$1.40 |
Change
0.035(2.57%) |
Mkt cap ! $3.343B | |||
| Open | High | Low | Value | Volume |
| $1.41 | $1.43 | $1.38 | $4.057M | 2.901M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 4610 | $1.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.40 | 85948 | 7 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| DEG (ASX) Chart |