Whilst I was pleasantly surprised to see a close at 4.0 cents, I acknowledge that the closing price of 4.0 cents was from a $15 trade for 366 shares in the afternoon close. Therefore, I don't place much weight in the close at 4 cents. However, my screen is showing a buy sell spread of between 3.5 and 4.0 cents, so not many selling below 4 cents at the moment.
The trading since the capital raising announcement and little selling pressure so far is making me wonder if shareholders are going back to the project update announcement and remembering what they liked in that announcement. Add to that the directors participating in the capital raise and I think there is a lot to like about where this project is at right now.
HIO Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held
