The number of shares is meaningless. What matters is the market cap (ie share price x shares on issue). The market cap will be influenced by what the new entities trade at - this will be completely up to the market.
Today's announcement is great news. This was a potential outcome the company described as desirable when I spoke to them many months ago. So they will be happy. IMX is massively de-risked now.
Funnily enough, if there was no Graphex on the horizon, the share price would have bounced to 1c or more following this announcement. But now everyone is worried about dilution etc because they don't understand consolidations, in-specie distributions and IPOs.
From my perspective, I've been bullish about IMX for the past 4-6 months as I've learned more about every the Chilalo project. Termite has been the massive millstone around its neck, the niggling doubt I had about the company's success. With today's announcement, I'm feeling much much more confident about our future.
Ann: Update on Termite Resources-IXR.AX, page-6
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0.8¢ |
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Mkt cap ! $38.95M | |||
| Open | High | Low | Value | Volume |
| 0.9¢ | 0.9¢ | 0.8¢ | $21.35K | 2.417M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 39 | 12734195 | 0.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.9¢ | 4423479 | 5 |
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