If they are going to continue to raise funds at these low levels, even lower than the GFC raising of 7.2c. They could at least show some enthusiasm in holding the price above the SPP to ensure a successful raising.
Especially seeing as though the real price level prior to the announcement was as low as 6.5c before someone manufactured a 5 day 9c closing price with less than 1m shares.
I assume they will give the share price a good push along after the raising, why not start now and create some confidence in the future and the SPP,its hardly going to cost much and will do more good than harm.
I am positive this will all work out to some level of success in the future its just how long and how many shares will there be. When the price hit $1.10 there were only a little over 400m shares.
CJO Price at posting:
7.3¢ Sentiment: Hold Disclosure: Held
