"The Tindalo development concept remains to be a relatively low capital cost option compared to other offshore developments and at this stage of the project, Nido continues to rely on internally generated cash for funding."
For mine that appears to be a carefully worded statement with the key words being "at this stage of the project". That is not clearly saying that at the next stage of the project capital won't be required.
I'm noticing clear manipulation around the 13.5c mark. When it builds on the buy side someone sells into it and vice versa when it builds on the sell.
I can only think of 2 reasons for this, if anyone can add to these, please do:
1) the volume weighted average price is being manipulated by a broker at the company request for a cap raising.
2) the vwap is being manipulated by someone at a predator's request pending a takeover attempt.
With the recent 2 positive spin ann's released by the Co. on 22/9 and today - my money is on a cap raising.
Btw I'm not a downramper in the Co. I hold a reasonable parcel and strongly believe in the lt prospects of this Co.
NDO Price at posting:
13.0¢ Sentiment: LT Buy Disclosure: Held
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