i returned to plenty of debate!i still hold and...i agree with...

i returned to plenty of debate!

i still hold

and...
i agree with some of your statements that when shares are offered to sophisticated investors at a discount, the price retreats to this level

and i agree that management could have waited and released both the merger and the resource upgrade separately to maximise the shareprice, and even obtain a higher sp for cap raising

i also agree that such a long delay in current market climate doesn't bode well for investor sentiment

however

- they have secured a resource of up 1.2b tonnes

- there are currently 300m shares on issue - 200m are held by major share holders, maybe 40m are long term investors like kakoii and those he can vouch for, leaving about 60m left

- today's sell of was around 50m

- bottom is forming around 5c, not many left to shake out

- 640m company at current price of (300m shares x 5c), or 625m shares at 5c, equals CHEAP

- management means business by hurrying merger ont he back of geo report