I dont subscribe to the theory that an oversubscribed capital raising means the price was too cheap. It may in fact mean it was viewed by the market as a fair price.
Perhaps at a few cents more many subscribers would have baulked. I had expected 57.5c, and had placed a buy order around the time the sp was 80 something.
I only gave into 60c at the close today. Actually I had better cancel that 57.5 buy order before tomorrow's opening.
What's important is that the capiatl raising was done at a price that generates enough dollars to get the company to the next stage of development.
PLV Price at posting:
54.0¢ Sentiment: LT Buy Disclosure: Held
