re: Ann: Elemental Successfully Completes A$3...
Been away for a few weeks and back in to take a look again- I was confident of my low purchase prices and decided to take a break- was really sick of the low volumes and BS with the pullback on almost no vol when harlequin had already paid 34c, as well as dinghy.
IMO we small holders cannot do much except get carried along with the wave- whether it is the 'incoming' or the 'outgoing' tide.... Dinghy, harlequin ( not quoting but just examples of any large holder ) basically instruct their broker to push price up or down on small drips (just sell or buy back to themselves)...
Of interest is this annoucement of "commitment" @25c to complete a A$3Mill placement. It is not broker backed. Its scant in details of "timing". I assume here the commitments is made to sophiscated holders but the "payment" has not been completed- the devil is in the details, so unless you are a sophiscated holder- anybody here? You need to hold over A$100-150K shares perhaps, but I would wager that the date of final proceeds for the placement is not complete yet... why else is the SP rising on small drips and vol? Who would pay 25c to ELM without a discount? harlequin is different but ppl like me and you (with only abit more holdings ) "sophisticated holders"... they need the SP to be higher before they will pay up.
All good, as I think the rise is overdue since the harlequinn annoucement! But that is the cynical nature of the sharemarket... the damn thing is rising nor only because someone needs it to, to get this placement "banked". I'd be loath if when that is over, we are at the wimp of the next motive.
Up, down, sideways, rollercoaster... thats my rant. Good luck to all us small holders.
K2P Price at posting:
27.5¢ Sentiment: LT Buy Disclosure: Held
