All that speculation is based on one-sided and very limited information that had been provided by GIP and that's the cardinal fault to begin with. The termination of a decade-long collaboration doesn't come without warning signs. No matter what version GIP tries to sell us here, a termination more likely is the LAST step in the process, rather than the first like they want us to believe. At least I don't buy that nonsense.
After extending the proposed rights issue 4x, GIP reported a conditional financing agreement on 26/02/2015 (the share price basically didn't react at all, was capped at 0.003, all shares traded on that "breakthrough-news day" amounted to less than $9000. Why is that???) The 4x extended rights issue then closed on 06/03/2015. Trading in the stock was halted on 31/03/2015 due to the suddenly arising "tenure issue" and IG resigns on 14/04/2015 due to " business commitments elsewhere" (Ah yeah, sure thing. NOT!). Food for thought! I, for one, do see a story that is much different from the "official version".
Further, the company comments: "Given ... the company's ongoing funding the Board requests that the Company’s shares remain in voluntary suspension." With the whole project in limbo there will be no funding coming forward, that's for sure as far as I am concerned. That leads me to the question: Is this stock going to trade ever again?
AR1 Price at posting:
0.3¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)