Whenever Hartleys do a coverage its most likely that they will...

Whenever Hartleys do a coverage its most likely that they will be using Hartleys in a upcoming capital raising.

Same thing happened with AKK which I am also trading.

To sell the capital raising to investors there needs to be liquidity in the stock. Also the capital raising is likely about 20% below the market price (unless they give away a heap of options).

If the share price is 1.5c then realistic placement is 1.2c. if the share price is 2c then placement price is 1.6c. I can see that they would need the share price to be higher than what it is now.

I have noticed that there was like 250m options given away in the last placement. Most likely this is going to people who are supporting the stock for the upcoming placement.

From the budget in the presentation seems that AWD would need another $20m raising to be sufficient for the next 18 months. Lets say there is another 1billion shares to be issued then its another EGM on the way.

Either way I am only here to trade this stock especially if there is a ramp before the placement and would also like to trade it just before they reach their target zone of drilling.

These specs can be fun to play with but remember to apply strict stop losses.