Don't always need a consolidation. TPD's an example. raised 5...

First 16 Last

Share
Profile

Follow
GortonGums

5,031 Posts.

494

17/09/22

10:01

Post #: 63751360
Share

Originally posted by DoubleL ↑

Fameluck they will need a good project and broker/funding group.

Take a look at CLZ they just raised $10m and consolidated 150 to 1 from a pre-consolidation price of .003c with a new equivalent price 4.5c meaning if it stays at 4.5c they haven’t lost or made a cent.

Yesterday that stock pumped crazy up to 6.4C meaning they made 42% profit if they sold at the days high.

Nothing is impossible but it’s quite clear nobody will be buying our stock because we get a few receipts for oil. We need something exciting, something for speculators to jump on board. A big oil target and not one where we get 20% interest and that’s why we need the big dollars to find a suitable target. We won’t be able to do a proper raise on the current SP. They could issue 1 billion shares at .002c and raise $2m but would a CR even be possible at .002c and would the raise be successful. What worthwhile project could you do for that amount with a 100% interest. It’s a big ask and then another CR would soon be needed.

Not all is lost here I believe they will find a way to pump it and it may involve Borba. It would be great to hear from the company about what they’re currently doing with the Hydrogen project they were investigating.

Anyway I won’t be selling at these prices I will go down with the ship or just maybe that little miracle we have all been hoping for comes to fruition.

Good luck holders DYOR

Expand

Don't always need a consolidation. TPD's an example. raised 5 million at 0.002 and got themselves into non operated positions in the Perth basin and Mongolia back in 2020 and they already had a few billion on issue. They've just done a consolidation now, but shows if you're getting into a decent project and not moonshot clown shows, you can get the money and get going.

XST Price at posting: 0.2¢ Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

Reply