Bravobrad - yep normally stocks retrace to CR price. not so sure...

Bravobrad - yep normally stocks retrace to CR price. not so sure this will happen here.

the last rights issue in feb 12 went to the old board. the proposed rights issue coming is going to go to the new board. the other big recent buyer was national health and they are now a sub holder. so any sales will need to be disclosed so we should know soon enough if they are profit taking....

we've seen dip down out of the teens over last 6 months (or so) into single digits on low volumes. there are just not that many shares traded lower than the teens, so not too sure who is likely to be selling for a quick gain.

i reckon you've simply got a very tight register and limited free float supply. previously limited demand due to corporate inactivity and lack of clear direction. corporate activity now freshened, clear direction being established. As a result we are seeing increased demand. increased demand that is not capable of being matched by supply sees the price rise.

if they start to drill (and get results) in their high grade areas then we may see a rapid re-rate. refer to say VRX (or HOR) for an example of how this can play out.

glta.