CMG 7.89% 20.5¢ critical minerals group limited

Not sure what to make of this. Either a masterful move or just a...

  1. 4,368 Posts.
    lightbulb Created with Sketch. 2703
    Not sure what to make of this. Either a masterful move or just a spin on the roulette wheel.

    Gerhard Redelinghuys, who seems to have a solid background in Qld coal companies, has thrown a bundle of money at a couple of roughies, this one and New Peak Metals (ASX:NPM) which has a market cap even smaller than Critical Minerals Group. About $200k for new scrip from New Peak and just shy of $800k on the open market on CMG for a 7.7% holding. Of course the Japanese big bopper, Idemitsu, dominates CMG's share registry holding 32% of issued stock.

    GR has timed his purchase to be included in the entitlement being run in the next couple of weeks.

    The MD showed a slide at the Noosa do the other week that indicated that the feasibility study will not be out until the first half of next year, with production not due earlier than 2028. A bit of a long timeline here, especially in this small cap depression we are currently in. They have put their hand up for a government grant so that might be the next piece of material news.
 
watchlist Created with Sketch. Add CMG (ASX) to my watchlist
(20min delay)
Last
20.5¢
Change
0.015(7.89%)
Mkt cap ! $8.649M
Open High Low Value Volume
20.0¢ 20.5¢ 19.5¢ $17.23K 86.15K

Buyers (Bids)

No. Vol. Price($)
2 100827 19.0¢
 

Sellers (Offers)

Price($) Vol. No.
20.5¢ 29567 2
View Market Depth
Last trade - 12.16pm 09/08/2024 (20 minute delay) ?
CMG (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.