Lakey,
I decided to pass on the placement. I managed to buy some below 2.20 and expect to buy a few more at these levels. There appears to be plenty of stock currently getting offloaded - no idea who it is and no idea when it will stop. Only some decent contract news will give this a reason to get above the 2.40 rights price in my opinion.
Whats more I have been burnt so many times on rights issues. Seems you can always buy at well below the rights price these days. Some people seem to know when these rights issues are to happen and prepare themselves accordingly.
Cheers
BF
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