LOL you need to connect the dots... DYOR. but here is some of mine - see below
FoxFire Capital is the same owner as the tenement holder (FoxMetals) in Brazil, who is also the largest share holder (Patrick Volpe) in the company. And each company was refered to in the announcement's as "
FoxFire" So i'm guessing it ain't him thats dropping shares...
I'm guessing another cap firm or three, that may have bought the shares for the free oppies and is dumping now.... The questions is how many did they buy, and when will they run out.... I feel a lot of volume has gone thru since the issue of the shortfall shares... like 40mil+
If anyone has broker data they want to share.... that may give us the clue.
From the aquistion announcement
Si6 Metals Ltd (“Si6” or “The Company”
is pleased to advise that, following the completion of due diligence, theCompany has elected to proceed with the acquisition of a 50% interest in a portfolio of 10 licences (“Tenements”
from Foxfire Metals Pty Ltd (“
Foxfire”
in Brazil subject to Shareholder approval and then enter a joint venturewith Foxfire with respect to the Tenements (“Joint Venture”
.Key
Terms
1. Si6 to acquire 50% interest in the Tenements from Foxfire for consideration comprising:
1.1 the issue to Foxfire of 209,000,000 ordinary SI6 shares
1.2 the issue to Foxfire of 209,000,000 1 cent, June 30, 2025, options each with a ‘piggyback’ 2 centJune 30, 2027, option (and otherwise on the same terms as the attaching options under theCompany’s current entitlements issue)
1.3 a 1.5% (50%) gross sales royalty being 50% of the existing sales royalty applicable to theTenements.
From the Raise announcement
The Company has engaged Melbourne based advisory firm Foxfire Capital Pty Ltd (“
Foxfire”
to managethe Offer for a management fee of $60,000 and Foxfire will seek to place any shortfall for a fee of 6%for any shortfall placed . Foxfire is associated with the major shareholder in Si6,
Mr Pat Volpe, whothrough his different entitles controls over 10% of the issued capital in the Company. Mr Volpe has committed to taking up his full entitlement in the Offer.
(20min delay)