From the YGL announcement.
"Completion of the farm-in by Yilgarn is subject to Philippine regulatory approvals and raising sufficient funds to finance the seismic programme. Shareholder approval to issue 70 million shares at 8 cents each for aggregate proceeds of $5.6 million to be used to fund the seismic programme is being sought at a meeting of shareholders to be held on 2 June 2006."
This is very significant for current YGL holders. I would not be at all surprised to see the sp start sliding.
Lyns, the YGL farmin should already be factored in as you suggest (old news, but now formal).
All in all, I can't see any of that news driving the current buying in both stocks. Something else must be looming.
TA, I have some info for you as well, but right now I'm off for my walk. Will email later.
reevaluation...question mark, page-13
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88.0¢ |
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Mkt cap ! $200.7M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| 1 | 3908 | 88.0¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 90.0¢ | 18330 | 1 |
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