OK Lets see where we are to day... Seems even with Due Diligence...

OK Lets see where we are to day...

Seems even with Due Diligence the announcement today the stock has failed early on to push through the resistance barriers around 4c set over the last few days and in fact has dropped through support levels (now resistance levels) of 3.3-3.1c surprisingly easily. Currently we seem to be finding traction off the 2.7-2.9 support zone and it is yet to be seen whether this can be held through to the close. The company has stated that the Min Cap raise will be done at 2.0c and you would expect that to be the short term floor price if a rush to the exits (Faster that what occurred today) was to ensue.

I have not done extensive research on this stock so am unaware about likelihood of other smaller announcements expected other than the Prospectus and opening of the offer... In short the Due Dill ann was met with heavy selling all day and we have what looks like at this point another day where we will close closer to the low than the high. If it finishes really close to the low could unfortunately see the continuation tomorrow of the selling ... I would expect very strong support around 2 and if it breaks down below 2.7 then I would say 2c will almost certainly get a sustained visit.