Well, I got caught out, bought 200k in at 30c - thinking that raising cash wouldnt occur till later on when the sp. rose higher and also hoped the sales would keep them afloat without needing to raise funds now.
Most annoying part is that they suggested no immediate raises and that they raised at multi year lows.
I think if the raise occured at 40+ cents it would'nt have been seen so negatively, especially if existing funds (and profits from new sales) didnt cover outgoings - then it would have been justified and most would understand the real need for it.
So agree that this is a "load up cheap" for our special friends...deffo short term pain. Lets hope 25-26c holds and we start to see a slow rise in sp from here.
GBG Price at posting:
29.5¢ Sentiment: LT Buy Disclosure: Held
