SO4 0.00% 31.0¢ salt lake potash limited

An Opportunity for the Brave

  1. 582 Posts.
    lightbulb Created with Sketch. 988
    No I'm not talking about buying this (if it ever relists), I'm talking about buying through the 2 alternative routes which are still trading.

    I think everyone knows of our AIM LSE shares trading at 4.3 pence or 8.15 cents. I doubt most can buy there though, and I'm not sure if AIM owners can buy into a cap raise.


    https://hotcopper.com.au/data/attachments/3600/3600917-0bfb37ef802eb04b0b1a3a1f17ffda81.jpg


    Alternative Option.

    Just posting for anyone brave enough, EQX has 44 Million shares and 19.9M AUD. It is currently valued at 25.8M.

    It is a dead holding company of SO4, so you're buying SO4 and cash. Their 2 iron ore projects which have been seized will never yield anything. So essentially for those brave enough they could take a stab at EQX to get SO4 shares for half price.

    EQX market value - Cash = 5.9M (round to 7M (board fees over 2 years + small liabilities court fees))
    SO4 Shares = 44M

    Implied SO4 price = 7/44 = 15.9c/s


    If you think it will open higher (and more importantly stay higher) then there's a play there. If it ever opens again that is.

    I would personally not go for this play, but know some of the SO4 cheer squad here might be interested...

    GLTAH DYOR
    Last edited by Bwatson: 20/09/21
 
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