Well done on ERW, I hold another couple up in the Andover and...

Well done on ERW, I hold another couple up in the Andover and hoping for some similar moves. We are finally starting to see some decent gains down at the small end of the market and hopefully some of this emerging sentiment will flow through to CMO in due course. Good capital management makes the world of difference. With low cap companies like ERW and CMO with around 100m shares on issue, these sharp moves are much easier, heavy dilution can become a bit of a handbrake for some of the others.

Look at WA1, floated at 20c with 44m shares at the same time as CMO floated. WA1 also dropped to 12c about the same time as CMO did. In January 2024 they raised $40m with the issue of just 4m shares and would you believe ... they still only have 66m shares on issue and trading at $23. Dilution definitely not an issue for them.

This is an example of good capital management, raise money on the way up, not on the way down. A company we both know recently issues 100m shares at 5c to raise $5m. For WA1 that same number of shares would bring in $2billion now.