Anyone got any comments or opinions on what the recent announcement re. new issues opions etc will do to this stock price.On another site someone posted that the share price is worth $9.00.Just new to share trading and appreciate picking others brains.
I've held this on an off for around 18 months. I'm currently NOT holding.
I had stock at an average buy price of 16.7 and recently sold when it rose to the current high 20's low 30's. There are a few bigger companies who've invested in them (Oxiana in May) but I'm not sure who's responsible for the recent buying which has pushed the prices up to their current prices.
The company has promised a lot but is yet to deliver. If I had 10K spare I'd just let it sit on AQD for the next 12 months but their lack of success has left me wary. If you enjoy a punt then these guys may be worth betting on but unless they hit "pay dirt" you may find this stock goes nowhere fast.
$9.00....... Um I don't know how they came up with that figure. Only one Analyst I know of has a buy on this stock. And it's listed as a Speculative Buy.
As to the rights issue I would say they are simply running out of cash. They had 7 million only 18 months ago and now they only have 2. (Prospecting is expensive work these days!) Given their lack of success, they may struggle to find investors this time, but it seems Australia has gold fever with resource stocks so they might get it easy.