If they can get 18.5 (5% discount) to 19.5 cents a share for the placement I think would be a good result.
Since there are only 130 to 160 million shares (??) on issue I am not sure a 15% increase (24 million shares) will be enough cash to cover 2 wells next year. So it will be interesting to see the qty placed.
Although there are substantial buyers at 0.22 to 0.23 there are substantial sellers at 0.21 to 0.23.
It suggests that some of the sellers have got shares at a slight discount and will make a small quick profit ad still retain their holding. Thats the way placements work.
It will be interesting to see the announcement and almost certainly I will buy a few more.
SWE Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
