Having written the above in a rush, I forgot to express my regret at not having been around more whilst the EO was open and hope everyone is comfortable with their choice to participate or not. Given the circumstances, I imagine there were many who left the decision till the end, so thought I'd just pass on that I've heard companies tally up entitlements and allocate shortfall a day or two after the official close to allow for snail mail, which I suppose is why our result will be announced on Wednesday.
The majority of holders will have paid by BPAY or EFT however, which of course is received somewhere between quickly to immediately, so shouldn't result in anyone missing out. As I mentioned previously, my daughter and I took up our full entitlements, but unfortunately weren't in a position to request shortfall. Consequently, I wondered across this past weekend, if I scrounged around the back of the lounge for loose change, found a few thousand and sent it through, would it be returned or accepted? Haha. (That $50k box on the application form haunts me and I reckon those who were able to tick it will be laughing.)
Fingers crossed we're either fully or over-subscribed and also that everyone receives what they've requested. Hoping details will be released on Wednesday of management, directors and Strategic Metallurgy's allocations too.
Excellent to see that the selling has stopped, with $0.003 on the buy side now, and also more centre point trades at $0.0035. Will no doubt be an interesting week. News or lack of will most likely determine how long and much we churn at .4c. My guess is that we will pretty quickly skip back up to our pre-EO share price of .5-.6c.
With a current market cap of $23m, our new MC will still be under $30m depending on the result, leaving us plenty of room to grow. At 3 cents, our MC will be a modest $300m, etc. Time and news will tell, which management have telegraphed we have coming. As we're in the QR thread, I'll end with this intriguing line from last week's report:
Strategic partner due diligence continues for collaboration in the Phase 1 Project, at both the AbuDhabi and Namibia subsidiary levels. It is evident that while the weaker prevailing lithium priceenvironment poses a challenge for some organisations others view it as an opportunity, taking alonger-term view on the incentive price needed to satisfy demand projections.
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