Expect our American chums to send this lower tonight in the States. US$0.46 is 2 cents under the rights issue price.
This morning I sold on the open at 2.8c and bought back at 2.6c and pocketed a handy thousand bucks in around 60 seconds.
I also bought more for my trading account at 2.6 c (after selling at 3.7c).
I may flick them this afternoon.
I would be very circumspect about chasing this higher until the Americans have cast judgement.
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