Retail subscribers would have had shares to sell before today if they wanted to, as they have the original entitlement holdings available and there was no way applications were going to be scaled back and we saw net buying last week. I think it is more likely the brokers getting out who supported the insto offer as a result of Duffy putting the squeeze on them to stump up. They would be dependent on delivery of the new shares coming today.
Either way, I suspect we'll see some more buyers coming in over the next few days who are interested in the copper / gold story and see the value in STM at these prices and now we have more than tuppence ha'penny in the bank.
We also have the potential for the 400m options to be exercised at $2m over the coming months if the SP gets over .7c, which is not a major challenge.
duffy has worked this really well in terms of getting funds, managing demand and generating interest and this may well turn out to be out our watershed moment.
GLTA
Wazz
STM Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)