I'll say up front I have high hopes for this company. They are MY hopes based on my research. And I'm not one to just slash and burn with hateful comments!!!
If I look at it objectively, I actually feel for the management..... They spruiked the good news, the price went up and they got themselves in a position to do a CR.
But now it seems the hand that fed them has turned around and bitten them!!!! The share price is down.... Way down now below CR price.... The good news is out there already and if more comes it COULD be taken with a high dose of scepticism based on how the previous good news was used to get the price up... Or, at least, that is what happened whether the management intended it or not!!!!
Once bitten, twice shy as the saying goes!!
So they are a bit stuck I think..... At these levels I don't know what retail investors will think about buying at 4,8c via the SPP.... Seems like it is a sore test of loyalty.... So what then? Will the underwriter soak up all the shares? Is it fully underwritten? (NOTE: I have the paperwork... got it yesterday but have not looked at it given the price at the moment). What happens if the company does not get the money? Is that the fear at play now...? If the company can't get the SPP through is it in real trouble... Hence the pessimism on the share price...???
So many questions!!!! I guess it's wait and see for now.... Until news comes out....
Think I will go read all the paperwork thoroughly now!!!
Kind regards.
J.
WPG Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held
