This is why it pays to have your SPP underwritten as in that case the broker would have supported the issue.
The SPP documents are due to be mailed out tomorrow and aside from the SI's (they are already committed) there won't be many takers if the share price remains at these levels. CGM would IMO need to hold at least 8.3c for a full uptake.
Regardless of the current SP CGM is still a great stock to hold and accumulate at these levels. It will however be slow going for a month or two because short term traders know the SI's will try and sell their 50m 8c shares at 10c or so. Hence the lack of interest.
But you never know - further rises in gold could change sentiment to the good very quickly.
CGM Price at posting:
7.8¢ Sentiment: Hold Disclosure: Held
