Last capital raising was at 4c as you mentioned and the share price never trailed back near 4c (like I was hoping so I could take a foothold!) after the capital raising. It doesn't look like its going to happen this time either. Today was the first test with new shares from SPP hitting the market. Share priced had dipped at close by a very moderate 15%. I see this as very positive as there was plenty of buying interest today to sponge up the shares sold by those making a quick profit after the capital raising. Also with the share price being up by 50% above the capital raising of 13c/share prior to new shares hitting the market, to see a moderate drop today of 15% is very encouraging. With their drilling campaign underway there is a lot of news to come and potential for share price re-rating if the news is very positive.
BRB Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
