TPT 0.00% 0.9¢ tangiers petroleum limited

Kegster, I disagree I dont think it has been missed on this...

  1. 437 Posts.
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    Kegster, I disagree I dont think it has been missed on this platform at all. SPP was initially supposed to raise 800k through the SPP as I recall. Managements big mistake was to accept oversubscriptions to the tune of 3 bricks full well knowing that existing shareholders would liquidate their existing holding and pick up 10-12c per share on the SPP - very short term thinking for the shareholders that did this but who can blame them?

    TPT management stated initially that there would be no provision for oversubscriptions - they then opened the floodgates. Unless the really required the additional funds they have created an unnecessary problem resulting in the selling down from 44c to 37c as we see it today.
    I dare say we still have an overhang and could expect selling to continue this week.
 
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