If the story is true, the recent raising price is below their original listing price of $1.60.
They would have struggled over the past two weeks to raise capital based on market movements. Rumours circulating were obviously true that they were close to breaching their foreign debt covenants.
I bought at 3.55 on the day before they went in to a trading halt. When they open I am expecting the worse, it will definitely be below $2 now.
What did you buy in at Greg? I am in the same boat, long term hold for me as well now, may even buy more if the price goes anywhere near $1.50
TSE Price at posting:
$2.38 Sentiment: Hold Disclosure: Held
