The market appears to have been caught up in the recent institutional placement evidenced by a "floor price " currently established at $.20, the price paid by the insto. (at time of posting 11 buyers for 3.7m shares)
This usually happens with capital raises involving the issue of new shares. The market fears that the insto in this case will sell out above $.20 for a quick profit. In my opinion there is no way this will occur.
The insto like many of us invested in GRV will be looking to sell down the track at $'s per share, not short term opportunistic pips!
I think that prior to the Georgina project assays being released week commencing 10th May, fomo will kick in and we could see decent share price rises ie from next week.
Overall both the SPP raising $4.5m and the Insto placement of $3.0m has been easily absorbed by the market and shareholders are in a great position!!
GLTAH
Add to My Watchlist
What is My Watchlist?
