"The question we have to ask ourselves is...
would we have bought these shares available in the rights issue had there not been a rights issue and that the market share price was at 65c??"
Actually, Siouxsie, when they hit 85c I vowed to back up the truck if they retraced to 70c. When the rights issue was announced it was pretty obvious they would go close to the rights price; the fact that that price hasn't looked like being broached on the downside together with insider buying at these levels convinces me this is the real thing.
The traders are having their positions squeezed and talking the stock down; who gives a? I don't have much time for daytraders, and I'd love to see the register of GDR jammed up with fundamental long term holders. Patience is the key.
But in answer to your question, I didn't back up the truck in the end. No matter how easy it is to fall in love with a stock it's always wise to keep am eye on the weighting of your portfolio.
I still think those who are buying at these levels, and I include my daughters to whom I recommended it, are investing wisely on a long term basis.
(umm, to you traders out there, that's longer than a week)
GDR
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