Well here's to hoping you are right Humpfrey
Who was expecting this CR to come before HM3 results? Not me, and reading the posts not many.
Why would OGX do a CR before HM3 results are out? Typically a company will do a CR when they think the shareprice us at a high point... so from this I am reading that management know the hm3 results are coming out and are not going to be that great (I really hope to see 20g+), they have hyped the stock by telling them good grades are coming, returning results in spades. Issued a number of additional announcements that are all positive; all to inflate the price... I think the rise from 11 to 12.5 is purely on the perception in the market of positive hm3 results driven from the feedback of JG in interviews and in the announcements.
If I was management and sitting on a ripper results, wouldn't it make more sense to do a CR after the Ann? A bad example but look at Getswift, they announced the deal with Amazon, share price doubled, then they did a CR raising 75 million. Had they tried to do the CR before the announcement they would have had to double the shares issued.
I don't understand people's optimism about this CR and the timing of it... spells bad news to me.... happy to get any theories out there as to why you would raise a CR now and not after good hm3 results
OGX Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
