Just looking at the share transactions post announcement of capital raising, I am encouraged that even though the SP dropped in expected fashion, they was volume (relative to daily volume average) on the buy side to absorb those who wanted out for various reasons. This tells me that maybe late comers were expecting to participate in the cap raising or not expecting it to drop to the cap raising discounted price.
I am wondering if management have also timed the cap raising perfectly with the Gold price now on rallying mode after clearing the weekly resistance. I am taking up my entire entitlement and I will also be looking to increase it when I get the details in the post.
There is a lot of upside in this stock to leverage on the rising gold price but in reality any thing can happen as there is no such thing as certainty besides death and tax. The only issue of disappointment is the big delay with their mining progress to date.
ORS Price at posting:
5.9¢ Sentiment: LT Buy Disclosure: Held
