base forming for next up leg

good to see that the expected dump of rights issue stock didn't occur. It is also very positive that the rights issue was oversubscribed by 4 times and the shortfall issue was oversubscribed by 5 times, what that means is that the people who missed out or wanted more need to get it from the market and will slowly chew up the resistance heading forward.

As for the support level looks like people are happy to snap up anything around 15c, if this level holds it will mean another higher low after the retracement after the last announcement which is a positive sign going forward.

All we need now is the announcement of the next drilling campaign and the shareprice will get a nice kick along.

As for takeover speculation I would like to see a recent top 20 shareholder report or a change in substantial holding before I believe that it is being professionally bought up!

All in All am feeling more confident today in the fact the dumping of rights stock did not occur