Ann: $21 million capital raising to underpin exploration, page-34

@coop50

The market looks for certainty, it's much like a heard of sheep at times, and let's be honest, things haven't been great in the sector lately.


If it did rise to over 40c before the SPP closure I bet there would be a few people willing to take a punt and sell 30k worth to throw at the SPP, everyone is going to have a different price point where this starts to make sense but it could bring on some selling, therefor stall the price, at current levels it's not worth it but up there it might be, for example if it was 45c you need to sell 66,666 shares to make your $30k, you pump that $30k back into the SPP and get yourself 111,111 shares back, and even if you don't get them allocated, chances are you will be able to pick them back up on market for around the same price as things would already be sitting well over the raise price.

That's my reasoning for thinking we will stick around these levels for a while. If we get an announcement the market likes all that could go out the window. Obviously I could be wrong and to be honest, I hope I am, because I will do exactly what I said above. I believe this raise will be great for us but things have been a little rocky around here lately so I'm not expecting it to change overnight, however I am very positive for the mid term.