While i strongly believe this company is going in the right direction and could substantially increase in value in the short term, i believe there was some work done to get the share price down to help with the the price for the capital raise.
the sell off last week on the back of the announcement about a broken drill rig seemed too strong. and suddenly the sell depth dissapears post raise.
it would be interesting to see if Hartleys was a selling broker last week... given they have options as their payment for the placement its also in their interest to have the price lower for a short period of time.
in any case it was a strong raise and there should be plenty of news flow over the next 8 weeks which i hope helps the price action keep rising.
ENR Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
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