Range high 34.5c
Range low 20.5c
Yikes.
TMT was trading at 28c a share I think - right in the middle - when a scheme of arrangement was announced back on September 25, Saragian.
But they added some fat and assumed 32.4c a share for purposes of a 12:1 merger with the next door neighbour, AVL.
(Then I thought I’d be clever and bought shares to reduce my average to 31c however I’m currently 22% down with more to go?
Ouch.)
Your chart?
That breakout with volume back on 10/09/20 was when the mining leases were granted https://hotcopper.com.au/threads/ann-anintha-vanadium-project-mining-leases-granted.5597492/
… just when the price had got to the thin edge of a wedge?
And the HC forum from then (as per link) was expecting environmental approvals in the near future too.
But all that’s happened is that it’s still waiting on those after a few alterations, and been surviving on RCF funds that were injected about a year later, it’s also lined up some MOUs, lost an offtake MOU and most recently booked some early contracting work, along with ordering a gas pipeline.
.… and the MD has been walking the boards at conference after conference to no financial avail.
Looking at your chart today, it does seem a bit inevitable (can one break an inevitable into bits?) that we’ll hit that 20.5 level again.
Except whilst the company seems to have been mostly marking time, that volume break out from 20.5 up to 48.5 was on a real and fundamental change that still exists!
Thank you for sharing.
Your chart adds sense to the story here.
And I truly hope the existence of those mining leases + RCF’s ~$22m of investment here ($13.5m of shares at 37.5c in 2021 and the rest costing 28c each this year) will stop any further falls below that baseline.
And it was very nice to see you !
cheers
and
once again *ouch*
