I'm definitely thinking the same as you. 11.5c appears to be a solid base. It will probably hit 11c briefly but 10c is a dream imo. Unhappy to be wrong.
As for "
over capitalized including the SPP in their portfolio"
@1Smartinvestor, don't lose sight of the fact that it was a maximum of $30k and many shareholders went for a smaller amount. Maybe some did overextend and there were definitely some participating for a quick flip, but it's only a small amount of shares (only $3m in total) and if you take out the shareholders who bought to increase their holdings pre-drill, that is not a lot of shares to wash through imo.
I'm sure that anyone who is interested got the Next Investors email so would have read this for themselves - they took up their maximum entitlement and "are very excited that IVZ is finally drilling its basin opening well in the next few months".
