I had the unfortunate experience of buying in 20mins before the first announcement (trading halt) and immediately lost some 60% - ouch
But the only solace I can find is that, after emailing the company and getting a bit more clarification on the announcement, I sold out immediatley. Nothing new or off-market discussed, but from my perception, they had spoken up the possibilities of Obi and once the first results came in they realised that there was little chance and needed to cover themselves by issuing such a definite statement about its lack of prospect.
Got in at 4c - out at 1.8, but could have lost more - 1c share price now, a crap load of shares on issue, a few mill in the bank with little prospects and it would seem little chance of picking up any other decent prospect without further capital raising/dilution. Back to 0.5c??
I reckon the Indonesians saw this company coming a mile away and gave them an 'afternoon price'. The chart is the classic anatomy of a p & d.
Good luck all remaining holders.
Milesy
ATN Price at posting:
1.0¢ Sentiment: Sell Disclosure: Not Held
