Further to this just remember that at the moment there is only 1 million shares on offer up to 10 cents and buyers trying to buy 4 million shares down to 7 cents. If there was no CR then I would guess to say the SP would be 9 - 10 cents in anticipation for the China deal.
The shares have been oversold IMO as the SPP will only dilute the shares by 1.7% yet the share price has dropped by 19% since the announcement of the CR so IMO this price represents terrific value and a great buying opportunity. As a few others have alluded to today in these posts I too have just topped up on market rather than waiting for an oversubscribed reduced allotment and a sharp rise in the price from China news. Far safer strategy IMO.
Happy Friday to everyone!!!
Charting, page-3322
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