re: **gpe** up 20% some history
Well EEL had many problems ....
I followed them as you did and thought the projects had some merit. Problem with the finance with EEL as I understand it was it was arranged a couple of times but the MD was not satisfied because the finance was going to cost too much in terms of dilution of shareholders money ect ... and he basically stuffed around.
I was one of the very few still trading EEL prior to the announcement back in 2001 that they finally had the finance .... at the time my bids and offers were the majority of the market ... proir to the announcement to the ASX the market went bid a few days prior and price rallied 40% plus ... my offers were taken out and I looked at this as a godsend to get out of the shares as I had serious concerns and was sitting with a large posi in an illiquid market ... with mainly only my own bids and offers ... and an average that was under water by 15/20% but no bids besides my own.
Now when bids for several hundred thousand shares appeared and my offers were taken out within 25% back in june 2001 ... well I knew something was up ... the announcement from memory did not come for several days if not a few weeks after the price went suddenly bid .... I think I bought some at 30 and 27 cents and was the only bid at 25 cents ... I had offers out to 50 cents and was taken within a two week period.
The rest was history ... they had announced they had finance for their projects ... price went thru all my orders ... I was out and at a profit but it was obvious someone knew what was going on .... price rallied up to 70 cents but that was it. I shared my concerns with HC readers at the time and warned them to stay out ... don't like companies with inside leaks ... secondly had never hear of the finance providers .... made me very very sus at the time .... as it turned out the people with the finace fell thru and were involved with other projects that lets say fell thru .... I shall let you look at that one. Money supposidly raised for EEL was from memory lent back to the company lending it and when EEL wanted the money well there wasn't any .... hence it all went belly up. It was in my opinion from the start very very shady !!!
Now we have the new company ..... for me I shall stay away ... they appear to have finance and the end contracts in the bag ..... having once had problems I am a bit gun shy of it. This is not to say the company could be the best thing since sliced cheese. However to get 100 mio finance for a project with only a small cap and a million or so in the bank is a coup ..... not sure how to take it .... couldn't be bothered to do the research as not one I would invest in .... also at a glance EEL issued 200 mio odd shares at under 1 cent to get out of admin and with the current shares at 25 cents ... welll wish I could have such an investment.
I don't know ... for me with the past history it is not one I would buy here ....
