It looks like the pump has run out of steam and the cap raise is now imminent.
I would not be surprised by a TH tomorrow and a small raise at say 15c.
Maybe a few million dollars?
Yep - not enough to pay the bills for very long but a lifeline to keep directors stocked with champagne and caviar.
The larger cap raise will have to wait.
Meanwhile they will be telling anyone with at least one working eardrum that its Not Long Now in order to prop the price a bit longer and buy a bit more time.
Will this work?
Maybe but maybe not......
Buying support has thinned considerably this afternoon and after a peaky 19c opening today its looking sick at the close.
Can't imagine why!
DDD
The Pump and the Cap Raise
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