Ok so I know its only pennies and I cant imagine too many people interested...but today and yesterday a little jump in trading activity on this has pushed the price from a 7 to 8 range to 10 to 11....no news I can find.
Bid/offer is now at 13/14 cents. Someone must be building a position. But who would pay 13 cents for a share that was trading at 7 cents three days ago? Anyway sold a third of mine for a 48% profit so I'm not complaining.
I also own this share of "ill repute" and after some frustration I'm also well in the green on it. 14c is quite a resistance level, if it could break such well then perhaps the dynamics have changed. But who knows with penny stocks.
So RBA is no longer bankrupt, it got its funding and its a lot better than I though it would be. The R55 million loan from Old Mutual is more than the market cap was a month ago. Massive delusion, but according to management in their earnings reports, the main bottle neg causing the losses was cash flow and now they have enough to operate at capacity maybe they just make make a profit.