The capital raising at $0.37 cents was the best thing that happened for me.
I had bought in at the beginning of 2003 for around $0.30 cents but mistakenly sold around the middle of last year for $0.33 cents. before it spiked up to $0.50, missing out on most of that rally. Despairing that I had missed out I stopped following the stock. The capital raising and deceptively mediocre half year result completely deflated the share price giving me the opportunity to buy back in at $0.33, which I was surprised at. Then it just kept falling! Taking the plunge again at $0.235 seemed an obligation.
I doubt it will punch through $0.37 in the short term at least, without major news. Although that could come in the form of a positive acquisition.
It will be interesting to see if the buyers keeps following through. They've really come out of the woodwork.
All things being equal I think we might trade between $0.30 and $0.37 for the next month.
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