I don't think they could have bought on market at 3.4c.there...

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pwillcox

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15/04/24

13:10

Post #: 73349102
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Originally posted by gpick: ↑

Professional and sophisticated investors ... placement to raiseA$1,049,010 ... shares at A$0.034 per share ... 1.7% discount to the Company’s 15-trading day VWAP ofA$0.0346.

But a major premium to the ca. <$0.02 share price of the preceding 6 months.
Before the highly questionable jump of over 100% . . .
. . . in the last 15 trading days.

Been about $25k of quick profit-taking this morning, pushing the sp down to ca. that CR price, so the rest of the "professional and sophisticated investors" (about $1,024,010 worth) have effectively bought on-market. At a "curiously" high, short-term, market price.

This must be some new definition of "sophisticated" with which I am unfamiliar...

Am I missing something?
Don't get me wrong - I hold some (still in the red) and think they've got some promising projects, but . . .

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I don't think they could have bought on market at 3.4c.
there hasn't been that many shares for sale.
Maybe 3-4 weeks ago as I got a good amount at 1.7c but if you are looking at buying 10 mill shares you are buying them up to 4c.
even when I bought there was not that many selling at below 2c.
but to buy 30mill shares you would have been paying up.
Capital raise is a evil necessity.
And if it turns up gold at Rushworth then well worth it.
And it means that the rest of us will be able to buy up at 3.4c or below for a couple of weeks.
Would have been nice for it to have been offered to us but we will be able to buy on market same price for at least another week.
Also show that the big investors have faith and want to keep their percentage of the company.
I for 1 am hoping for 6c when assay done of Rushworth.

DTM Price at posting: 3.5¢ Sentiment: Buy Disclosure: Held
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