daytrading april 11 morning, page-299

Ddzx wrote:

"CNO will need to raise capital soon after 30 June 2013. its JV partner will probably take up 50% of the capital raising

essentially, CNO own 50% of the project and if they can prove up 200,000 tonnes at 2%, they must double their share register under the terms of the acquisition

thus, at 20 cents, the current market cap in valuation terms based on 100% ownership is $12m

for our trading purposes, the market cap is $12m rather than $6m

this is why the day traders is often an unreliable source of information

this is why the share price today is get smashed

at 16.5 cents, the market cap valuation is $10m

I read the acquisition terms and they appear very good

was a buyer at 17 cents (prior to researching)"


WRONG

The market cap at the time of posting was $6m