The markets are tough - ppl who bought above 70c would of course like to see the price rise - but thats that.
at 70c+ the company had quite a strong valuation.
management realised this and so took it as an opportunity to raise cash. The fact the SP is not below 70c shows they did this at the correct time. +1 for me.
Markets are exactly cheap right now either. If there was another correction maybe we would fall further BUT we would still be cashed up from a raising done at historically high prices. +1 management.
In terms of pushing the price up just to reach 70c on some sort of good news story...that doesnt fly with me. This company is in the development phase - one advanced another early stage. Their credibility will be shot if they concern themselves with day to day SP movements.
with all due respect. if you a disappointed with the sp sell and move on. I for one am not at all surprised by the fact we are seeing sideways movements. Price rises will be seen as value is unlocked.
-contracts signed -jorcs released -time ticking over until first production
sorry to say but its gonna be a slow and steady (and maybe even a boring ride) but it will be lucrative in the LT i think.
JMS Price at posting:
56.8¢ Sentiment: None Disclosure: Held
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