Don’t think I agree that it was a mistake to list in the US (and we should definitely list Estelle there as well). Before the IPO the Australian market valued SLR at zero as we all know. Bring in the NASDAQ exposes you to serious money, so when it moves it roars.
NVA were hoping to sell hoger of course but regulatory process meant they had to wait for this to play out. I dare you to sell 3 million LITM shares on market and see what happens to the SP: it would tank hard on 50% dilution. Couple this with a market pull back due to FOMC/fed rate hikes and TQ and you know why the current sale is the safe bet for them to take.
Would I have wanted a higher price for these shares? Sure but selling in market was not an option and we all wanted to have cash to ensure we are fully funded till 23. Now we are so I am content.
Ann: Suspension Update - Snow lake Investment, page-61
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20.5¢ |
Change
-0.015(6.82%) |
Mkt cap ! $44.08M | |||
| Open | High | Low | Value | Volume |
| 21.0¢ | 21.0¢ | 19.5¢ | $8.718K | 42.01K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 39956 | 19.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.5¢ | 8317 | 1 |
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| NVA (ASX) Chart |