I was speculating that ATN may have a Capital raising in mind. I guess the thought process was, well if we need to drill, then we need money, and moreover, we need to spend upto 2.5 million in the next few years. This is not based on assessing their cash flow - just gut feel.
Who would have the agenda, brokers, in the know how, wanting to lower the SP, to get a really good price for a raising - Potentially - I have seen it done on other stocks.
On a different thought, ATN's share price bounced off its 61% Fib level. If the bounce is sustained then, my other theory maybe completely wrong!!!
please do your own research
Cheers Mayo
ATN Price at posting:
4.5¢ Sentiment: LT Buy Disclosure: Held
