I noticed too that the buy volume at 0.6c of 16m shares is the same volume as the volume ahead to 1.5c. I don't have the expertise to analyse this but it does look like keen interest at 0.6 with few askers close by. The price needs to go to 1.5c in order to fill such a volume. Who are the 34 bidders looking for 16m shares? With an average daily volume of 2.9m since October 2018, I guess these get filled in a week or two by nervous sellers who are nearly all underwater.
The cash value at the end of the last quarter, not factoring in any options floating out there, is about 2c per share. However, the cash burn if repeated this quarter, without any income, CR or tin sales, looks like the share price should be 0.0 right now as financing IMO will be difficult. I can't open my wallet anymore and I suspect a lot of others will be the same. Raising capital for next quarter could get interesting if the SP remains depressed - are you listening guys. So why the high amount of interest at 0.6c? This is the make or break quarter IMO.
I keep thinking that the directors and top 10 shareholders still hold about 40 percent of the total stock on issue. I don't know too many stocks with similar depressed share prices where the near majority is held by so few holders. I wonder how they are feeling? Why havent they sold out yet? The average daily volume is only 0.1% of the total stock. Personally, I think holders are waiting for the day when ANW becomes great. Let's talk about the 10c party that is coming.
ANW Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
