I 've been watching this stock over the last few days as a mate of mine alerted it to me. Once the Mitsubishi Off take announcement wass done, the 5c Shares from the Non Renounceable Rights issue are being dumped like there is no tomorrow since yesterday! With big volumes too. That shows the following
1. There are still a lot of 5c shares to be sold and even at 10c, like someone said above, they double their money.
2. The biggest announcement was done 2 days ago so until this 5c dump is finished the SP will keep heading south
3. By doing the math those 5c shares could be around at least until late next week, at this rate of increased volumes so I am not writing off the 10c possibility for the SP possibly even sooner than we think
4. I reckon Dec could be a good time for GMM as the cheap shares would be gone for good from the screens and real believers start to slow down the volumes as sellers will slowly decrease over a period of time and the great facts about this little gem would be back in the spotlight.
In conclusion I must admit the SP will keep heading south until these cheap 5c shares are sold off and moved on. 13c or 14c is not out of the Q in tomorrow's trading. This is my observation of GMM. Please do your own research and trade as per your own plan always. Cheers.
GMM SP fall and the possible reasons after the Mitsi
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