yeah I've just seen the broker update on the Allomak website.
As far as a rights issue goes: there is little doubt these guys will be looking to raise more money in the future. At the conference Rob Allan said something along the lines of wanting to get some runs on the board before going to the market again. I'm sure the guys that chipped in for the placement at 82 cents last year will be wanting to see some results before chipping in again. If you're buying in now then you should send those institutions a thankyou card. Always nice when someone else stumps up the cash (at a high share price placement) to fund the expansion. Rob Allan is aiming to get this company into the ASX300!!!
On the share price drop: Rob Allan said he understood there to be some tax related selling from one of the institutions at the moment.
AMA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
