If this speculation is correct, then this is insider trading at it's worst and I for one will be asking the ASC to investigate.
A share issue at 70 cents is far too cheap.Considering the excellent press coverage and recent valuations any issue under $1.10 is diluting the value of existing shareholders.
Only a pro-rata issue where all shareholders benefit could have been done at 70 cents.
If shareholders who were to benefit from the placement sold in advance, not only are they guilty of insider trading but also they have falsely depressed the share price which now,but for this heavy and unexplaned selling, would be over $1.00.
I hope this resolves itself for the best but for now I am quietly angry.
Regards M.
HDR
hardman resources limited
