mexican standoff

Until the market has a read on what the 'sophisticated investors' will do with there cheap shares I feel there will be a bit of a wait and see approach by many new investors wanting to enter into CCC. See below, as today is the day the shares might be issued.

"Continental is pleased to announce it has successfully completed a placement of 400 million
new shares to selected sophisticated, institutional and professional investors at an issue price of
A$0.055 per share to raise A$22m (before issue costs). The placement shares will be
issued in two tranches with the first tranche of 200 million shares to be issued on or about 10
August 2010 under the Companys 15% capacity."