'The release of this 'bullish' recommendation now wouldn't have anything to do with 70 odd million 20c options due for payment on 31st December 2012. Especially with the share price being only 18c up to yesterday.
The article is a rehash of an investment group article from a month or two ago. The writer indicated he had quite a few options that he purchased at .014 cents each and was hoping to get .10 cents each for them before they expired on 31st December.
DJ Carmichael are lead Underwriter of a group that are underwriting up to $10 million of the shortfall.
I am impressed with the prospects for JKA but I don't think the whole story was revealed. '
The response to posting of the Next Oil Rush article on Hot Copper has not quite got the writer to the price he needs on the Options (0.014c)to at least break even. So this morning he has advertised the same report through Share Cafe site.
The best he has done today is push the Options up to a few sold at .012c and .013c then they have dropped to .007c.
His original aim would have been to buy a stack of JKAO's at .014c and offload the at .10c then, hey presto, he could claim he had another profit of about 600% on his hands.
He is now running out of time and may have a loss trade on his hands.
JKA probably would't be too worried as they have the issue Underwritten for $10 million of the $14 million issue.
JD Carmichael could be helping push this advertising so they don't have to fork out so much.
The saga continues. We wait and see.
JKA Price at posting:
20.9¢ Sentiment: None Disclosure: Not Held
