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rastus64

9,119 Posts.

126

16/08/18

10:27

Post #: 34971255
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Originally posted by speculator101 ↑

Without doubt its disappointing, but... sadly not surprising.
DCN did it (but timed it perfectly), GCY us doing it.... but terrible timing and sentiment.
Just this week they had a site visit for insto's etc, as soon as it was posted that it was occurring I knew that the raising would happen.

Management should be a little ashamed, the raising should have happened 1-2 months ago, when the SP hit old highs (close to) and they would have known they would need a bit more cash to ensure they did not need to go to the market under pressure... LIKE NOW. But... instead they did not. Plain and simply, just poor judgement.

That being said, I have not sold a share and plan on holding for the long term.
Still, well done to the insto's that have clearly been in the know and selling down the past month.
My guess is $20m. at $0.32.

Changed my sentiment to hold because I am just a bit frustrated. Such poorly timed dilution....

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Hold or trapped?

GCY Price at posting: 37.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last $1.29		Change -0.040(3.02%)		Mkt cap ! $1.429B

Open	High	Low	Value	Volume
$1.34	$1.36	$1.28	$6.872M	5.293M

Buyers (Bids)

No.	Vol.	Price($)
3	54579	$1.29

Sellers (Offers)

Price($)	Vol.	No.
$1.29	50000	1

View Market Depth

No.	Vol.	Price($)
1	349	1.320
2	3733	1.290
4	19317	1.285
4	86767	1.280
3	12000	1.270

Price($)	Vol.	No.
1.200	3000	1
1.225	17617	1
1.250	370	1
1.265	514	1
1.285	2200	1

Last trade - 16.10pm 03/10/2024 (20 minute delay)

SPR (ASX) Chart