Don;t be surprised guys. They did one a year or two ago and it was done before the program started. The price did hit 13-14c back then. I remember making the comment back then to my broker who said that it is typical of companies to do this.
I agree that after Warhawk would be a good time. Better still I think we may se it done after the two development wells. Punters will then see whats going on - soild oil revenues, good prospects coming up etc and will be happy to part with their money. I would like to see a cap raising done via an spp at a nice discount. That would help drive the sp as well as people scramble to get in. The higher it goes , the sp that is, the better it will be. A great drilling result during the spp period would ensure the take up .
QGC did this I recall and I made good money just from the SPP on $5000. I think it was a 30c raising. I bought in at high thirties only to sell in the mid 40's. The price continued to rise not long after.
ITC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
