a mate called me today and asked me why the sp hasnt rocketed on the back of todays announcement - it is very easy to see why......
with the rights issue being offered at 28c current holders who do not have spare cash (i would imagine most of them) are selling off as many shares as possible (eg over 1 million sold today) in order buy back shares at 28c as part of the rights issue opportunity - its a no brainer and its what i would do - sell at 29, 30, 31, 32 and then by back with rights issue at 28c - this is the primary factor holding the sp back atm
i have just bought big into ARU (so dont qualify for any of the rights issue) and im very grateful for the rights issue - as i didnt see the sp being at these levels nor lasting long at these levels ever again - this is a quality piece of dirt and a project that has been consistently meeting milestones and achieving results - the upgrades keep coming, and it wont be long before the sp starts to reflect the true value of this company - HUGE!!!
a mate called me today and asked me why the sp hasnt rocketed on...
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Last
16.5¢ |
Change
-0.005(2.94%) |
Mkt cap ! $395.8M | |||
| Open | High | Low | Value | Volume |
| 17.0¢ | 17.0¢ | 16.0¢ | $1.063M | 6.400M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 24995 | 16.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.0¢ | 448096 | 11 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| ARU (ASX) Chart |