Agree, hence why I no longer participate in capital raising even for holdings I have. Same happened with SkyCity, I bought in after the capital raise for less than the SPP price.
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Agree Baa Baa - I actually thought this was going to hit 1.20 sooner. It really is just an adjustment to price and lets see which way it goes. I am confident it will go the right way but then again I am a biased Shareholder.
Well just picked some up for $1.19 so it was worth holding some cash back from the SPP.Still looking at AUS just in case I can pick some up over there.Hopefully I picked the bottom though!
Giving the $32M away at $1.20 instead of $1.35/40 has lowered investors perception of what the value is, and dug a hole.
True believers will see this as an opportunity to sponge up some more script, in preparation for future good news.
The usual strategy by big boys, flushing out weak hands...nothing to see here. Will take few days to recalibrate, I'm not one bit worried about partaking in SPP.
Do we know when they would inform us about how much we get through the SPP? Friday?