No timeframe as such, my understanding is that technically you cannot raise if there is information not known by the market however nearly all the companies magically have news to release within couple of weeks after a raise.
Take the diggers and dealers conference in Perth as an example, the morning of that conference mysteriously 100 companies have market sensitive results to discuss, my point being that companies can and should make newsflow work for them.
Being 5 weeks since they got commitments for the raise there will be sophs from Shaws who are looking to move on as some would be short term investors and it’s been quite on the news front (apart from another CR to a strategic).
The SP has held up extremely well in my view and I was surprised by the strength but think it’s just dragged a little long with no news at all, even an update might have settled some nerves. I think today was sophs seeing lack of buys and just cut their losses and that created a bit of a flow on effect.
I am in no doubt the team are working hard to get more contracts and it’s important to note how far we have come in the last few months so we cant expect constant news after news. We have seen how favourably news has been received previously so hopefully there is some more to come in the short term and flush out any loose hands. Still buyers soaking it up this afternoon and I think it can run hard if we land the right contract.
SHG Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
