Was just thinking the same thing. Was always a potential outcome in this market and somewhat predictable. Last couple of raises haven't managed to go to sticky fingers, can't imagine this time being any different. If I was a betting man (and I obviously am for putting faith in these clowns) I would make the following prediction for how things will progress from here with regards to placement shares:
1) Sell hard into the next few announcements on drilling and assays with the view to dump as many as they can.
2) If the liquidity isn't there, no big deal just rehash some old research report with a target price of circa 40c and dump the remainder for as close to break even as possible and keep the free attaching option.
3) Sometime in the next 3 years exercise your free attaching options and money's made because lets face it, 12c isn't exactly an ambitious target for where the company will likely be in 3 years time. Heck we were already there 12 months ago.
Well played team. Doing a great job of 'creating significant value for shareholders "placement participants" as APC moves forward into 2018'.
Pity about the rest of us who all get screwed in the process.
APC Price at posting:
6.9¢ Sentiment: None Disclosure: Held
(20min delay)
