The rise will relay on "sophisticated" (...other word for opportunistic...) investors willing to give them the necessary funds and the timing delivers the exit promise for them with the rise like an add-on...
Petra works like a "sales house": "Hello clients, here an easy way to make a quick 10+% return - buy now and sell in 10 days or so..."
This is the scheme used by the two Scots from day 1 of the company (and the reason, why they used Petrel as a shell via the "reverse takeover" to be listed at the ASX and get access to the local capital market...).
Problem for the retail investors is, that any good news which might provide some momentum for the share price will always be killed with the next CR...
And the question is, where the share price can go after the "wash-out" of these new shares and the completion of the WE appraisal campaign?
...hence the timing makes a lot of sense and mir911 and rexsh nailed it weeks ago that a major CR is coming...
WGO Price at posting:
24.5¢ Sentiment: None Disclosure: Not Held
