dogfight continuing

Everyone is entitled to their opinion, but I believe what he have been seeing the last few days is a classic play while the placement price is being calculated based on a VWAP whether a 5, 7 or 10 day VWAP.

The large buyers currently in the market place will most likely participate in any capital raising but will not receive the quantity they want.It gives me the impression that there is plenty buying around but they are buying on the back foot. Current VWAP would be in the 35 to 37 cent range.

From the speed that new sell orders were put on the screen at 39.5 & 40 once the 39.5 level was wiped in the last 20 minutes, it looks like they don't want the share price going through 40 cents just yet.

The next few days should sort things out. I hope the Company doesn't wait until after June 30 to complete placement. Capital raising of $10 - 15 million at 36 cent level would be a brilliant result. It would only add 30 to 40 million shares to the 220 mill shares on issue. Hopefully, it would be the last capital raising the Company would require.

If the above is correct, the stock price will burst to the upside after capital raising put away. It would not surprise to see the stock well into the 50's within a fortnight of completion of capital raising.