I'll go and have a look. I have been watching the recent announcements. I suspect there is a large chunk of ex and current shareholders who are disgruntled and it is now a complete no-go zone for insto's etc. The bottom pickers might start to get interested but how much are the current holders going to be diluted and
what are they going to be doing with the money who gets caught holding if shareholders don't take up new shares what are the original vendors doing
A lot of people invested in this at the 18-20c range and 10-12c range. So the volumes are suggesting that there is still not "capitulation selling" but this may occur if all entitlements are taken up and price subsequently goes down and everyone throws in the towel. At what price.
But you do have to ask why would you do a capital raising at 2-3c (5c) unless you are short of cash or someone wants to dilute existing shareholders.
The overall market sentiment seems to have turned up in the short-term so I'll wait at this stage (got in too early with PWT so I'll look at others)
Disclaimer:
RMG Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
