I think a few are being suckered by the rights issue. *c in the heads pre Friday = 7.4c buying level (1x8c+.25x5c)/1.25 = 7.4c but the oppies 'appear' cheap cause they are trading at their 5c discount. You have to look at the SP as 7.3/7.4c at the moment not 7.9c if you are buying oppies based on the current SP.
That said if you are bullish and it doubles you will still make more out of the oppies for the same $$ investment through leverage as you don't have to pay your 5c for 2 years.
Technically this looks vey good (refer to sandybeaches old multi month graph).
If Old Park Lane really have 'ultra' high net worth clients then we are in for some real chunky action. Ultra highs have no problem playing with putting 1m sterling into something like this - 5 or 10 of them getting involved (as last nights volume seemed to imply may be starting) then we are in for some nice price action. Quite simply they will have far more impact on our future wealth than any Texas announcement or Georgia or Puntland in the short term. They could have it trading 15-20p within a month or two if they get busy.
RRS Price at posting:
7.1¢ Sentiment: Buy Disclosure: Held
