1. Someone was able to buy greater than 5% of the company at 1.6 cents in only around a month AFTER the GM renewal de-risked the investment! 2. A large holder sold around half of what this investor bought on market AFTER the renewal announcement near 52 week lows (the rest is retail capitulation, tax loss selling, etc). 3. If this rich investor hadn’t have stepped up and seen deep value then IMO the price would be 1.4c at best (even AFTER the renewal de-risked things) given the aforementioned selling in recent weeks!
The sharemarket never ceases to amaze me!!
The coming months will be interesting for the CXZ share price. Almost all the free supply has been vacuumed up at 1.6 in recent weeks so even if the quarterlies aren’t so great (costs up as flagged) then price appreciation is very much possible. Good luck all and hopefully within a year or two this investment has at least delivered a bag or two!
CXZ Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
