It's weird. The AFR, SMH and Nabtrade have AEB at a market cap of $11.8m. However, they have the amount of shares wrong. HotCopper has the right market cap. It is about $65m after today's fall, yes?
Re volume, there is not likely to be much volume on AEB until another placement is done and more shares created. The free float is <10% due to the Director holdings of most of the company. This company is in rather large debt, and a placement might pay back some moolah to LJ. It now has its factory built and has come a long way since float (floated @ 20c). If it can boot LJ now that it has passed its capital intensive stage, get some cornerstone investors and a big placement, it would be a much safer buy. Most are scared of LJ shares, and with a $65m market cap, LJ can eat away at this share forevermore. Most ASX-listed LJ companies are <$10m, and end up worth just a few million.
The good thing about this shares is that the Directors own 77% of the company, and they might get sick of losing money after a while. Having said that, with the company listing @ 20c, they haven't lost much so far- just a bit to dilution- they are still multi-millionaires.
AEB Price at posting:
22.0¢ Sentiment: None Disclosure: Not Held
