If you read the details of the SPP they have been very crafty. This will probably put a floor around 7c because only $8m available to existing holders, maximin $30,000 each and they have discretion to give each applicant zero or full or somewhere in between. Think they are being clever, but in reality they have let others as part of the $16m get in at 25% below last weeks close and trying to cause a feeding frenzy amongst retail by limiting what is left over.... Smart I guess, but also disappointing to treat existing holders like this.
QPM Price at posting:
7.1¢ Sentiment: Hold Disclosure: Held
