IMO the number of shares to be issued is a worry given the share price is a function of the market cap. divided by the number of shares on issue. In other words, I see the upside to the share price constrained because of the dilution that will occur when BSP come on board.
The plus obviously is that if you believe that the project has legs and you are prepared/able to average down, the time that the share price has been below 1 cent has given you more than enough time to get your average down to allow for the fact that the upside may not be as it once was. I'll be averaging down again once the resolutions to issue the additional shares have been passed.
Varuka, I see day traders as a plus although I didn't always feel that way. I'm currently invested in a coal stock that consolidated some time ago and it was at that that point that the day traders vanished and liquidity in the stock dried up. IMO day traders provide liquidity and also have an agenda of wanting the share price to rise if they get involved. Yes they can be a pain when they exit, but compared to a stock with no liquidity, I'd prefer their games. As for consolidations, well lets hope that is down the track a bit.
I guess a plus may be (hopefully) that the bulk of the shares to be issued may not find their way onto the market if these guys are in it for the long haul, ... here's hoping anyway.
TNP Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
