yes W3, the 12 month vwap is 5.5 cents which is exactly where we are. Been watching paint dry for months and no sign this will end anytime soon.
RBS Morgans has been dumping 3 million shares every day the last few weeks whenever it is above the 5.4 equity raising price. Looks like them again today at 5.5 today. There is some danger RBS Morgans breaks the market if it continues to sell like this. I hope management is on the phone to their so called sponsoring broker, hopes were very high they would back this vehicle when bought onto the panel. At the end of the day to be fair, volumes have just not been that great and it has made RBS flicking seem larger than it really is given the large size of the raise
My tea leaves are making 5.4 cents look very important from here, we could tolerate spikes towards 5 cents still, but need to be above 5.4 into November that's for sure.
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