well, rights issue was fully guaranteed and taken up except for 2pct or so, but true just under half didnt take up hence 4 majors has about half of stake.
They didnt do that to lose money or bail out later.
Creasy is again raising money with Legend, and he never really use his own money and bailing out of Apex to concentrate on copper is not a surprise. Apex hold a substantial share of Sirius by this divestment sofar nothing has happend.
One need to get to grips with the daytraders on this stock who has managed to break the issue price of 0.04c and take advantage of bitter people bailing out after having supported Apex thru 2 or maybe 3 previous raising without luck, and at the spped of 3 weeks have gained 27.5pct on the way down (to 0.029), and 31 pct on the way up (to 0.038). Daytraders has taken the stock back to within 5pct of issue price, management has a serious communication issue for such a penny stock with gold reserves of this magnitude, and still adding.
Long term investors cant do without the daytraders and visa versa, so overall it works for now. I am surprised to see so many dumping their stock so soon after the issue, understand where they come from but fail to understand why they dont trade it out. Punters can be a very impatient breed of sentiment.
AXM Price at posting:
3.3¢ Sentiment: None Disclosure: Held
