Bit disappointed the share purchase is at 1c. With the deal just arranged with Coalswana I would have thought it an attractive offer at .0012-.0013 considering the valuation placed on the coal alone. At .0012 we would have needed 166mill shares(25% dilution) and .0013 only 153mill. (23%)
With 666 mill out there and now another 202 mill we have over 30% dilution. I think this is a poor outcome as there will be plenty who will sell between 1.1-1.3 to make some coin or avg down and stall any momentum.
On the other side of the coin it is a good price for LT holders but not if it results in an SP of .007 when you have just paid 1c.
Because 30% dilution brings SP closer to .007 from .011-.012 so unfortunately I can see some selling into .09 in anticipation of that.
Just looking at the market depth one buyer at .009 now and 2 at .008 for 2mill shares. Could be a bit of a block but not if it gets pulled. Not much depth after that. 3 sellers at .010 for 1mill shares. Could get ugly in the ST. Gone from .012 to as low as .008
30% down on only .5% volume!!!
Hopefully that means tightly held!
Good luck all
Ann: Share Purchase Plan , page-3
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Last
9.6¢ |
Change
-0.004(4.00%) |
Mkt cap ! $64.44M | |||
| Open | High | Low | Value | Volume |
| 10.0¢ | 10.0¢ | 9.3¢ | $79.54K | 821.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50000 | 9.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 9.6¢ | 66614 | 1 |
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