APG 0.00% 0.2¢ austpac resources nl

two anns out, page-34

  1. 820 Posts.
    TJ unfortunately APG has a long history of similar behaviour...plenty in the trading industry are well aware of it's antics. It goes something like this:

    - cheap shares are issued to "investors" to keep company afloat.
    - the company runs on potential game changing news with some nice ramping to help it along
    - "investors" flog off their shares to lock in huge profits
    - then they help bleed it back to as low as they can...so the cycle can continue.

    Classic tactics include on market transfers between accounts to keep price ticking lower to attract more sellers. Transfers that could simply be done in one transaction off market.

    The reply of some here that these people are helping the company by taking these shares would hold some water if you ignore the fact that the price probably wouldn't be anywhere near the lows seen if it wasn't for the capping actions in the first place.

    I built a decent position in the company almost as much for the fact that I expected this kind of behaviour, as for the potential of the product. I just expected it sooner (as I did some progress in the product).

    And as far as it being as simple as asking and you'd be invited to participate in the cap raising (and get the inside word of course), I do hold SI status and some time ago stated my interest to participate in any future cap raisings, but no surprises that I wasn't contacted.

    In the meantime this post will probably be discredited, the same readers will hang off every word of the rampers, and everyone's shares are now diluted by another 5%!

    But ignoring all that, the big plus now is that there is absolutely no reason for this to be held back any more. I give them their dues, they play this game very well...just a pity it's at the expense of many long termers. I'm lucky, my average is pretty low, so happy to let them play. It's just the fact that many don't see it that irritates me.

    It wouldn't at all surprise me to see the good news flowing thick and fast now.


 
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