Now there is 1m bid at 3.9c you might be happy but Akki will probably call it a prop. FWIW props get cancelled if they risk getting filled - these are not props when they are the best bid sitting there. They might get cancelled at the end of each day but to sit there like that as the best bid in the market is as real as it gets (btw I have no idea who it is).
I agree over the past month there has been offscreen buyer(s) in 500k & 1m parcels but on the sell side unfortunately (yet again) just when the one seller we had suppressing it around 4c seemed to have finished then we had another seller appear. I guess the good news is that my understanding is that the new seller only had 10m and has already sold almost all of them. Lets hope that people decide to see what the first 6 months bring and we can clear 5c with the right data flow. I think 7.5-10c area is achievable this year, perhaps with a silly run beyond because of the lack of free float. If the news supports that level then maybe it sustains further but the ASX struggles to support MCAPs above 250-300m without revenue so 15c would be a stretch IMHO unless there is substantial revenue.
AK - I don't think there is anything in the exit packaging except that both executives had lucrative jobs or alternatives so in order to secure them they needed certainty of reward if the company was taken out by an overseas buyer. I think it is a bit of a concession to the concentrated ownership which would make a takeover easier to execute and no I am not suggesting this will occur - just that it would be easier to achieve. Based on all the snippets of conversations I have had with analysts, brokers, fellow shareholders and a few other external advisers I don't think there is anyone who thinks this would occur (if it ever did) under USD250m MCAP so it is not really a consideration as there is a massive gap between the current MCAP and what has been achieved and hopefully willbe achieved in the next 6 months. Still, everyone behaves differently when there is a cheque on the table and other opportunities out there so who knows - it is the kind of stock that could run red hot in the middle of the year because something like this could be in the wind. If it did occur then both execs could be unemployed but have significant financial compensation istead.
Happy New Year to you all.
PYC Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held
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