Why is it holding so strong? Because the story has not even begun.
The SP is higher than Tuesday's close FFS.
Look at what the $5M is giving us:
The funds will be applied approximately as follows:
• $2 million for development of the Golden Koala brand, both in Australia and China. This will involve multichannel platform development, promotions, and public relations campaigns in both Australia and China.
• $2 million to expand production capacity and to stockpile sufficient inventory to meet a minimum of 3 months of expected sales. GK will soon release a new range of products including o a children’s milk powder o new adult full cream, and skim milk powders o English language packaged infant formula.
• $1 million for working cap
The other positive in the announcement is this:
"If shareholder approval is not obtained to the Listing Rule 11.1.2, JAT will redeem the Notes at face value for cash. JAT has sufficient cash on hand to redeem the Notes, the cash having been raised from the Notes and previous capital raisings."
The company is in a very positive and advanced position.
We have CFDA to come. The SP will spike.
We have sales to come from China possibly in the next quarter. The SP will spike.
We have the CIIE coming up. SP will spike.
And I am sure there are even better announcements in the pipeline. Wait until after the GM.
It sounds like some have pulled out his morning because they are p!ssed off that they didn't get the 9c shares. That is all it is.
So if it was at 12c everyone would be happy. Really? The difference would be 40M share issued instead of 55M.
This CR is very positive in the scheme of things.
It sounds more like the people pulling out have not done the research and have just jumped on the bandwagon and see everything with rosey coloured glasses. Some people need to get a grip.
I am sure once all the panic DT's are out and assuming the capping is now done and dusted that the SP will start its upward trend after the GM.
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