So with this particular vanadium junior …
Why is it trading ‘as cheap as chips’?
The rainbow goddess for whom vanadium is named must have snickered up her sleeve a bit when she blessed AVL with so many good things going for it, because she also determined that there would currently be about 8.6 billion shares on issue .
Yep that’s ~8.6 billion
(And for an idea on how many shares that is, I looked up the other daythat there is 65,000 kernels of wheat in a kilo and 80 kilos in a sack — which gives 5.2million grains per sack … which I think adds up to about 1,654 sacks of wheat worth of shares)
oh well.
Remedy?
There was a new CFO who started this financial year who seems to have a good reputation for splitting companies up, merging them together and, hopefully, also consolidating gazillions of shares at some time soon…
His name is Tom Plant.
If you look him up you’ll see he seems pretty capable, and if he ever does get in a quandary he can very easily have a chat with one of AVL’s new non executive directors, Miriam Stanborough, who is also a CFO - over at Paladin Energy.
But those cumbersome shares?
So far they are owned by a rather small group of people - many of whom paid nothing or not much at all.
Before the merger TMT (used to be next door to AVL) was about 60% owned by the top 20 holders
And at its last annual report AVL was 30% owned by the biggest shareholders
from 2023 Annual report
And up till now, despite the merger having gone through on February 1, 2024, AVL seems not to have updated its Top 20 list :/
… but I guess it will ….. soon?
AVL Price at posting:
1.5¢ Sentiment: None Disclosure: Held
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