on the way up from here?

I was surprised to see the sp open so low today... it seems there were more desparate people wanting to get out than I had imagined. Or perhaps those institutions which picked up extra shares beyond their entitlement decided to take the instant profit!

The lowest point of 24c that the stock traded today represented equivalent to 27.5c pre-CR price (compared to 38c close before trading halt). Amazing!

I would not be surprised now to see likes of Stockland or Mulpha or other institutions slowly accumulate towards 30c ex-CR theoretical price and then beyond as confidence continues to improve. After all the NTA post CR would be still at 58c (which is more than double of the sp now). During this period, however, we could expect more retail shareholders keep on reducing their holdings to keep their exposure with their entitlements limited to the company at the previous levels, so their may still be some volatility ahead which traders may take advantage of.