"So there you have it folks. After the issuance of the top-up placement shares and days of speculation prior as to what would happen (particularly the numerous posts from various non-holders waiting / hoping for a cheaper entry point) the SP has held comfortably above the SPP and placement price."
Truly a result that needs celebrating.
A share offer that brings the price down from 6.7cents to 4.5cents is the reality of what happened. The people given the shares in the top up offer knew the price they were paying, the sheepeople didn't.
Amazing how people can so easily get talked into seeing sunshine where all there is is rain.
Not long ago h00ts drew a line in the sand on the share price at 8.1 cents. I saw it gravitying to a base of 5.6 cents when it was trading at 6.6cents. It fell even further than my worst expectations.
https://hotcopper.com.au/threads/avz-chart.4477731/page-96?post_id=36337033#.XH8nlBo_WhAEvery horizontal support level people have put out there has been smashed. I remember Freehold's charts with all his "strong" support levels. I think he finally gave up charting support levels at the 14-15 cent level.
Now you have a few high profile posters that are set again hoping to ride another bounce. Once the trading profits are out of the way from this raising (ie another set of bag holders buy the bounce) and reality bites, that the project will still need packet loads of funding to build, I predict the 3.8cent level will also give way and the Chinese will own more.
What if the Chinese don't care about the share price? Maybe it's the level of ownership they are interested in. The fastest way to own more of the company is to get the share price lower and drive western institutional investors out of the picture, which they seem to have successfully achieved already. The only mugs remaining are the retail investors IMO that don't understand the game being played. The share price and the make up of the ownership of the company tell the story IMO.Esh
