So was the blip today general market jitters (market was down generally) or did the story about ground water chemicals at other CSG operations put doubt into the market's mind:confused:
given it was trading at over $70 before the announcement of the rights issue - and there hasn't really been that much bad out there to justify a $20 fall if you exclude the drop on going ex-rights - it is pretty well oversold for mine.
next week will be interesting - but i'm going to have to...
you don't necessarily have to wait to receive your letter to do anything with the rights - you can log in and download an electronic copy of the offer letter - specific to your holding and go from there - i.e if you just bought and are worried about running out of time once the T+3 completes -...
trading halt today pending annoucement re oversubscription of the rights issue.
am I missing something - how does a pro-rata rights issue get oversubscribed:confused:
it mentions expressions of support from institutions - but what's that got to do with the shareholders who've applied for...
and more announcements coming - trading halt now in place.
Buy side has increased significantly over last few days trading. and SP up to 0.12 prior to halt
Making the rights issue look attractive after being only marginally so up till now (even considering the free options)
maybe to get the cash to buy the shares/options under the rights issue - if they didn't have the cash and didn't participate - their holding would be diluted to the extent the issue is taken up anyway - by selling at the price they did relatively close to issue price they get the cash to...
For me there are similarities between this one and QGC - if only because they have good management, with good tenements close to distribution points.
can't recall where i initially came across BOW - was plenty of similar ones around at the time - but the strong management, the offshoot from...
wonder how the rights trading will pan out - the options coming with the shares are more attractive to me than anything and with the shares i'm holding i can get a few - suspect a fair few people may consider selling their holdings (assuming SP is right for them) to fund rights acquisition with...
definitely not going down at the moment - though keep expecting it to drop off at some point - very few sellers around though it seems. am happy for it to keep right on going - though am holding long term anyway ;)
Only thing of note i could see was that two directors bought 5 million shares and options between them.;) (off market buy) guess they wouldn't be buying up if they thought there was doubt over the company's future.
Managing Director got a few more today - looks to be good confidence there amongst management. Hopefully will be positive reflection in the sp soon - once all the US banking jitters start to calm down. DYOR.
Some good news for BOW yesterday with the announcement of it securing 3 new CSG fields. Hopefully will see some increase in price as a result, even if only gradual, though sp rose yesterday along with the market.
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