I'd be surprised if it opens at 1c. Keep in mind, they're aiming to raise a significant amount of capital quickly to settle with TEG. This deal is likely being structured with high-net-worth individuals who will effectively take control of the company for next to nothing.
It closed at 0.005, so I’d expect a cap raise at around 1c, maybe bringing in $7 million. The idea of it opening at 10c is wishful thinking, and with the current number of shares on issue, even hitting 10c down the track is looking highly unlikely.If it hits 2c, I’ll be offloading everything personally. I do think it has good prospects though, I just need capital back
PGY Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
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