Issues to Duchess in May
36,511,056 at .0052
42,614,737 at .005
Holding increased by 6m.
Disposals 72mil or so.
There's your answer.
The sp will not be going up in any sustained fashion until there is either a substantial contract or agreement actually bringing in money or new capital in the form of equity which is not going to be sold on at the first opportunity. Whilst Duchess is keeping the company alive it is making its profit continually by selling on which is close to 20% every time they move a parcel (buy at .005, sell at .006).
At least there are still buyers stepping up to buy at .005. Basically, Duchess is more or less controlling the price. They are going to keep making their 20% on turnover. My guess is that they'll probably not push it below .005 as this might unnerve buyers who are accumulating - but they'll keep it around that mark as they are on to a good thing.
This is substantiated by the recent events when a terrific announcement about a possible partnership with Colt was not able to produce a sustained rise in the sp even though there was a lot of buyers. A couple of years ago this would have doubled or tripled the sp.
If the png contract comes through with some actual cash or something from Colt happens to provide funds the haemorraghing will stop as the coy will not have to keep drawing down continually. There would, imo, then be a good scope for the sp to steadily increase as confidence builds in the company.
The positive that comes out of this is that it is getting (imo) less likely that the coy is going to fail as Duchess will continue to support it as long as they are making money out of their churning. The recent announcement about Colt is a great confidence booster and I look forward to something very positive happenning in the next few months for refinancing of the companies notes and ongoing development.
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