I went for double my allocation, so will get everything I assume.
I would explain this as a result of:
a). many existing shareholders being cashed out. Also, lots of existing holders sitting on big capital gains from holding from 15 cents, but not necessarily the type of investor who have $10-30k sitting in the bank account.
b). overall market has fallen. This is not a good for people's cash balances. People sitting on recent losses (rather than gains) are going to be less willing to sell out of other stocks to participate in SPP.
c). risk appetite across the board is down.
d). good old fashioned manipulation by those who were hoping for exactly this situation (i.e. hoping to bid on shortfall shares), and
e). as a result, people see better value buying on-market i.e. because existing holders are interested in gold too. External/new investors, less so.
I am still extremely bullish on FFX/LLL.
I'm sure the shortfall will be snapped up and with the capital raising behind us, we will see a more 'sane' market price.
- Forums
- ASX - By Stock
- FFX
- Crazy !!! Short Fall $44M !!!
Crazy !!! Short Fall $44M !!!, page-23
-
-
- There are more pages in this discussion • 93 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FFX (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
MTL
MANTLE MINERALS LIMITED
Nick Poll, Executive Director
Nick Poll
Executive Director
SPONSORED BY The Market Online