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dwjd

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29/07/15

17:23

Post #: 15715642
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Originally posted by ainsleym ↑

I'm still pondering why the Rights Issue was at such a deep discount. Its completely way off norm for any company ( unless in severe financial distress) to discount by more than 50% of the previous last traded share price. I'm stuffed if I can ever recall any company discounting so deeply and especially when they are sitting on a world class resource. If it was some sort of sop to "pacify" long term holders , throw them a few breadcrumbs for which they should grateful, well, its backfired abysmally given the share price plunge. Mind you I still don't get how such a very modest number of shares to be issued could have had such devastating effect on the share price . The maths just dont stack up. So I am inclined to the view the SP drop on coming out of suspension has sod all to do with the Rights Issue. It will be interesting to see if the Lenders have taken possession of the shares that were offered as security on the loans and now intend to place these ( off market hopefully) at a price not too far from where we are at right now. As long as they go to responsible entities, in my view it will put a floor under the current price and if so todays price might well turn out to be a great bargain. Anyway, I've put my money where my mouth is and have bought back in after a long absence and continue topping up.

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Your timing is immaculate!! To think I spent all my cash buying & $1. 30/1.50 !!! DWJD

ATU Price at posting: 65.0¢ Sentiment: Buy Disclosure: Held
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SUX, page-43

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SUX, page-43

Top Stories

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