Back in October the share price had wonderful momentum on the back of some very exciting news. During that month in October there were 167 million shares traded. Fair to say they had plenty of interest. Compare that to the previous months activity. Less then 2 million traded as an average for the previous 7 months.
It's been over a month since it had it's surge and Management in their wisdom is now announcing a capital raising.
One might have thought with the interest created by the market that a capital raising could have been organised at an earlier time and might I say a much higher price then the one they will announce shortly.
If they do a capital raising at 60c plus I will eat my words.
Management has a responsibiltiy to get the best deal for their shareholders. Somehow I do not think they have.
I don't have many, which is just as well. Suddenly my confidence in management has waned a trifle.
Will watch with interest what price they managed to do the raising at.
LBT Price at posting:
38.5¢ Sentiment: None Disclosure: Not Held
