MARKETS

Neptune sparks back above water

CH4 is finally starting to get back to some semblance of its float value this week, with it finishing the week at 90c. A negative broker's report soon after float saw its issue price of $1.25 plummet to 70c in May. Troughing along at those levels until lifting only two weeks ago, a company announcement on Wednesday which said it had almost doubled its reserves had the stock changing hands as high as 97 before settling back at 90c.

Neptune sparks back above water

Given CH4 was a Macquarie Bank float, and that bank is being investigated over trading in fellow Queensland explorer, Innamincka Petroleum, this sharp run leading up to the reserves upgrade has observers...

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