I dont think yesterday was a pump and dump. They issued 80M shares and my estimate is that 100M were dumped in one hit. My guess would be a substantial shareholder got out as soon as he saw the new issue announcement. It could however be part of the ongoing shareprice manipulation which I suspect is happening. I wait for it to finish, but some people have deep pockets and dont give up easily.
Both Jim and Greg are careful not to give me inside information. I dont think they like the dilution. Jim is a shareholder and dilution makes Greg's performance options way out the money. This issue was different in that there is no advantage to the investor in just dumping the shares.
My favoured outcome is good news followed by an increase in SP so it is worth my while to exercise the rights options. It this happened, the company would get some funds and there would be no dilution.
KBL Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
