I really think this price is being managed (capped) and the bot action over the last few days is feeding my hunch.
I signed off my last post saying I think this will fly post the EGM. My thinking is that the subscribers to the placement wanted the SPP to look as unattractive as possible to avoid additional dilution.
I bet the take up rate on the SPP is next to nothing - so mission accomplished.
Next is the additional 25 million shares to the long only fund, if they are paying a premium to current SP I think that increases the likelihood of a yes vote.
Plenty of reasons to keep this low until after the EGM, after which we will see the impact in terms of balance sheet and dilution and can reset expectations in terms of EPS etc. moving forward.
OR - If I climb down off my grassy knoll for a moment, it could just be the price of copper falling
GLTA
TGS Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
