Team, if you want to raise $2M, generally 708’s are called to buy some stock around 10-15% on current price. When you want to raise $24 Million, you have to set the bait as tempting as possible to ensure the order is filled. As a 708 myself, if it is 25% or close to this range, I’ll buy a chunk and dump the shares in the short term as it typically rises above the pre-closing price and money is made.
I can bet there is a good story behind this raise as the smile on our speakers face was pretty massive and I expect some solid news flow from here.
I would assume this raise would have been dealt with some time ago and the seller this morning on open that sold a sizable chunk would definitely be buying through the raising. Smoke and mirrors but the result means we are free to control our own destiny.
Comet management, now you need to bring home the bacon for the shareholders!!!!!!!!!!
Bugger $0.40, send us to $0.70 and pay us a dividend or buy back shares and reduce the register.
I believe the chess move here will pay dividends and make shareholders a little richer.
COI Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)