"Wasn't the cap raising UNDERsubscribed, with a shortfall that was picked up by Ian Gandel?"
Read the last interview on Alks homepage. They could have sold 2x the shares they are selling.
The undersubscription is due to US investors (those not using a nomminee in Australia) being legally unable to participate. So the "undersubscription" is not due to a lack of interest - just remember how many people on this board complained that they couldn't pick up more ...
ImO the reasons for the "sell off" are
- gold price tumbling $50, making it less profitable to hedge the TGP
- some traders getting fed up with waiting for the TGP permit: it's very unlikely we'll get the permit next week (Easter holidays), so they rather want to use their cash for other stuff.
"Wasn't the cap raising UNDERsubscribed, with a shortfall that...
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Last
50.0¢ |
Change
-0.005(0.99%) |
Mkt cap ! $301.7M | |||
| Open | High | Low | Value | Volume |
| 51.5¢ | 51.5¢ | 48.0¢ | $944.9K | 1.900M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 134206 | 50.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 50.5¢ | 7500 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| ALK (ASX) Chart |