I am pleased with the increase over the past few days but wondering why the fast rise. I realise some people could be setting themselves up for when cash starts flowing and this is one of the more positive announcements in recent memory but I wonder about the point in the Exec summary that states, "Capital for the Newcastle EARS Project is now being raised and is well supported by investors." Does this mean further dilution in terms of issuing more shares or could it mean finance by way of a commercial arrangement? If it is the former I could well imagine the price being bid up if the issue is to be based on the volume weighted average cost of APG over the prior 5 days. If it is the latter I thought there was already a line of credit with some overseas company that hasn't been drawn down - but then that's years ago and could well have expired.
Anyway, here's to a successful future for APG and we long term holders.
APG Price at posting:
3.8¢ Sentiment: LT Buy Disclosure: Held