"Next week's trading should be interesting when some odd 380 million new shares are listed (sold at 7 cents by the company). Normally share price drifts to placement value or near about." chand
The key word is "Normally." I've seen the sp go under the spp, especially in one penny spec I own; however, in two equities I own I was/am thinking the same thing as you. Although both have never even approached the spp. Therefore, who knows, though my short term sentiment is down -- but at what bottom, above or below the spp??
I explain UP sp because the stock is derisked, eg. bankruptcy potential greatly diminished, while the prospect retains its high conviction/potential for drilling. ALL drilling is a risk -- BYE is much less so, viz. the sp reaction >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>!
OV
BYE Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
