furthermore, using the commsec charting tools, the RSI or relative strength index has oscillated between 30(oversold) and 50, a very small range since 13/6/18.
announcement re "oversubscribed" cap raising was 25/6/18
so basically the recipients of big parcels or at least one of them knew there was go going to be another raising this year even when they invested at 3.7c
unfortunately ORN has had to drill the crap out of Prieska even though it was a previously mined ore body due to strict ASX JORC rules and had to update JORC late this year to assist with the BFS.
because of this SP was restricted even on good news in the full knowledge management would have the cap out again so soon.
have management been stretching themselves too thin by drilling Prieska while also carrying out greenfield exploration?? future results will tell us more.
ORN Price at posting:
2.8¢ Sentiment: Hold Disclosure: Held
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