"Some large sell orders going through which suggests pump and dump this morning."
I would suggest that the selling is caused by people who don't have the ready cash to exercise the rights, selling some of their shares to get the cash. At least that way, you can claim a capital loss on the old ones.
My guesstimate is that fair value post rights issue completion is about 27c per share.
"Some large sell orders going through which suggests pump and...
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