The typical "Modus Operandi" continues with this lot, - run assets (cash) down since they listed on the ASX back in 2008. - Credit Raises have never been successful (excluding the hyped up Morabisi project/s), the most recent SPP failed to attract shareholders with it coming up short. - continually highlight "chip samples" or "disruptive" technology (OHD) that never prove up - chase the next "hot" commodity to sell to the share holders - fail to answer emails (unless they have answered @sandfire) I gave up trying as soon as McLean sent out an email to all shareholders "blah blah" saying he was open for communication but then failed to answer any questions (none price sensitive) I sent, just more BS from this management.
My take on why they have extended the trading halt / voluntary suspension, is they can't find brokers/under writers/sophisticated investors that are interested, unless they are going to offer shares at a cheaper rate than normal, normal being 20% discount to the VWAP on the 5 preceding days to the announcement date. The VWAP was $0.0013 @ 20% discount would make it $0.00104, investors would just raise eyebrows looking at the current share price versus credit raise prices. I also do not think there will be consolidation of shares (correction if I am wrong) but it wasn't mentioned in the trading halt announcement and from memory consolidation of shares needs shareholder approval?
Mr King, time to dig into your loaded (from GPP & Astron) bank balance to prop your baby up again......
cheers
GPP Price at posting:
0.1¢ Sentiment: Sell Disclosure: Held
