HGO 5.60% 6.6¢ hillgrove resources limited

Mmmmm. So, we saw a 20% sp hit to raise capital of $10m (so...

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    Mmmmm. So, we saw a 20% sp hit to raise capital of $10m (so far). You may have thought (as i have) that the sp is at a ridicously low level @8.5c. Today we at one stage saw a further 20% drop (to 6.8c). Can anyone explain for an obvious dumbo like me why a share that was considered by analyst well undervalued when it was around the 20+c level should be sold off in such volumes? 14.8m shares traded today! This just does not make sense, or does it?
 
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