placements can have the effect of absorbing demand.interested...

placements can have the effect of absorbing demand.interested parties,wealthy interested parties get shares direct from the company instead of buying on market from you and me.

however wasn't it 21 million shares placed at 15 cents?Thus providing PEK with working capital?
You do realise that the company doesn't directly benefit from price rises in the secondary market ie the ASX?
That the whole/main purpose of the Share Market is to raise capital for Enterprise?

anyhow,the price drop is not placement getters wrecking the price.Look at the Volumes sub 15 cents.Not just the Numbers but the $$ values.

i think it's merely selling by either stop loss,bored,or people in profit from buying 6 months ago and generally the market overall has soured so there's a slight flight to cash in this highly speculative share.

we just have to wait for the results to be announced.hopefully it'll be fertilizer and rare earths with 'encouraging' if not whizzo grades.

it may be found that if the placement holders are 30% in profit[20centsish] that they'll feed selling into the market.
let's hope these results bring in buyers significantly to absorb any of this and PEK takes a peek at 30+.