They need $15mil to fund the offtake, so I would expect they want the price to be going up, not down. As $15mil raised with 7c shares adds over 200,000,000 new shares to the company. Stealing another 1/3 of the share you hold at the moment.
Throw in the convertible notes and there could be 800,000,000 shares by the time they just sell rocks.. I feel sorry for the ones who bought in 2007, that leaves them with 20% of their original share in the company then.
Ann: Appendix 3B , page-3
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Last
0.4¢ |
Change
-0.001(11.1%) |
Mkt cap ! $16.81M | |||
| Open | High | Low | Value | Volume |
| 0.5¢ | 0.5¢ | 0.4¢ | $4.059K | 836.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 68 | 65801421 | 0.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 3528046 | 10 |
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| POS (ASX) Chart |