What was that old song from The Carpenters back in the 70s.....?
"We've only just begun....."
Hang on to your hats boys n girls, this could be a very big story in 2011. The right pedigree of management - Peter Lynch - ex-Waratah Coal, Middleton (BHP) and others...and the right sector...energy + coal. Cashed up ready to kick goals (how many 30c companies do you know that can do a placement that raises MORE MONEY than the entire Mkt Cap of the company at the time of the placement (that was AEA a few months back when it was 25-30c).
Isn't it obvious this was a back door listing into an old shell? And it terms of how much the stock has already risen this year (12c to 57c), its largely irrelevant because the mkt cap has only just breached the $100m threshold with the issuance of the new shares.
Anybody who wants to get a significant position in this stock - say $100k investment - is going to have to pay market, and pay up.
Well done to those who got on board this one early, and good luck to all in 2011.
Coop
AEA Price at posting:
57.0¢ Sentiment: LT Buy Disclosure: Held
