Mac Prime normally give you 24hrs to come up with more cash so I'd say if anyone was on margin with NEN they would have already had to stump up more cash or been closed out." ____________
Effective January 22, the post says. It would be a brave punter now who got a margin loan for NEN in the next week.
hiya, furniture- happy New Year to you (you made some good calls last year- hope it happens again for you this year). Not buying NEN now, no. Stunning volume, isn't it? Each day, more than 10% of the share registry is turning over.
Loaned shares a bit higher yesterday than the day before:
http://www.asx.com.au/data/shortsell.txt
NEN NEON ENERGY LIMITED FPO 6,296,741 553,037,848 1.13
On 66m.7m volume, close to 10% shorted.
The volume and level of share price fall makes it one of the most interesting shares around. Rumour of a capital raising (one HC member said $4m to raise @ 10% dilution, which would make a raising @ 7.2c; another said a 5c raise, which would be much more dilutionary if aiming to raise $4m). But these are just rumours. So much "talk" about this one, and not many facts right now. The market will be looking for when this is a value proposition, although a speculative punt looks to be taken by lots of traders right now- all that are sold are being bought!
NEN Price at posting:
5.6¢ Sentiment: None Disclosure: Not Held
