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trickyonthebeach

1,871 Posts.

2

17/11/16

22:42

Post #: 20704094
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Originally posted by dermott1 ↑

Pretty basic chart below showing a break of down trend.

Where does it go from here ? Hopefully in the right direction. Nothing ever goes up in a straight line so maybe a pull back before gathering steam again.

Finance is the key. Its baffling with only 130k in the bank from the last quarterly that they haven't notified where any cash is coming from ( do they need it ?? prob yes ). Maybe this last pump just before they advised how to convert shares was to get people interested in converting.

Has it worked ??

Didn't it work and with the selling over the last couple of days are they holding it back so that they can distribute more shares under the current facility ?

IMO with the last couple of announcements this is a screaming buy and in 12 months you would have to think this will be many multiples higher than where it is now.

D

View attachment 341105

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Great chart, thanks

They have a finance facility they can draw on whenever they like in 150k tranches at current VWAP so cash is not an issue. They are just drawing conservatively so as not to dilute at current SP

CL8 Price at posting: 2.3¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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