GDN 0.00% 1.7¢ golden state resources limited

lol, that is funny. Well the capital raising was at 1.8c, so I...

  1. 498 Posts.
    lol, that is funny. Well the capital raising was at 1.8c, so I would assume it will have support at those levels since the sophs will want to see their money back +10% min. The question is when the actual SPP comes out will it stay above 1.8c so that the average shareholder can make their money back. Also the Sophs were given a free option per share at a meager 2c (exercisable) expiring in Jan 2015, however the shareholders once again were given nothing attached and capped at $1M, so more dilution even if you take up your full amount. Will be interesting to see how much the well cost will be in the Ukraine as GDN have averaged about $18M per well on the Golden Eagle and haven't come up trumps. They will now be pushing about $70M+ spent after this well and need a big discovery to even begin making money.
 
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