IMO there may now be about 50 million shares for sale at 2-2.1c, putting a cap on the CL8 SP. What a wall! There are two ways around it, either some phenomenal news or slow buying and selling over a considerable period. What I don't get about these so called 'sophisticated investors' is if they just had some patience they could make considerable profits rather than the 10 or 20% they scramble for.
Once a cap raise is announced with 'sophisticated investors' at below the current share price it is IMO a sell signal for all holders, long term holders (believers) will be able to get back in almost for certain at a cheaper price.
CL8 Price at posting:
1.9¢ Sentiment: None Disclosure: Not Held
