shipping rates, page-12

Tradie, there is no standardised reply to your question.

However, the cap raising was a modest issuance of around 1 for 5 so distribution of it from weak hands to strong should have been quick. Any weakness should have taken it no lower than the issue price minus 0.5c. Instead it fell below that and below the technical level of 25c. All this happened while the IO price rose strongly, China stock market rose 10%, the ASX IO sector rose strongly and GBG's shipping increased. This was a very weak performance.

I think 20c is looming as the next technical level.

I sold out today on break even with no harm done.

May buy back in at 20c but even that could go lower if/when another cap raising is required. If the JV was screaming for cash and it now needs another 3 months working capital then GBG could be raising a further $120 million soon.