Given the significant amount of interest from institutional investors and the small portion on offer to retail investors, it is unlikely there will be too much churn. Now we have the inevitable capital raise out of the way, it relieves the over hanging pressure caused by doubt over our future funding.
The share price will likely be fairly steady as we eagerly await news from the WE-3 which will be the major catalyst in what could be a massive re-rate of the company. Hopefully we will have some results next month.
Given the WE-3 is the riskiest of the drills (although still high), it will also be the biggest mover in terms of value add to the company.
Could be an explosive end to the year. Time will tell. If it were certain, then there would be little upside. GLAH.
WGO Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held