Last trading day for cum-rights entitlement was...

Last trading day for cum-rights entitlement was 14/9/2009.

14/9/2009 : Closed at 2.9c (Intraday high of 3.2c)
15/9/2009 : Opened at 2.1c
3:4 rights issue @ 1c per share
1*3 + 2.9*4 = 14.6/7 = 2.1

2.1 = Opening sp on the first ex-rights entitlement trading day

25/9/2009 : Closed at 2.5c

Between 15/9/2009 and 25/9/2009 the sp has climbed around 20% as investors start to get on board as they realise that SBL is seriously undervalued compared to other junior gold explorers and have excellent prospects of upgrading the already significant gold resource during the current drilling programme.

Today's closing sp of 2.5c has already taken the new 1c shares into consideration so if the MCAP was to drop back 40-44% to 1.4-1.5c any time before drilling results are released to the market I'd be very surprised.


Stagman