OK I am starting to catch up now - what if that consulting fee just landed a whale? Ultra’s don’t do this work themselves so the company must have got the review/strategy work done by some heavy hitters and they have found it is valuable and maybe they just hooked a whale as a result. If I have the sequencing right from announcements the new chairperson put $5m in last year before this work was done - what if that was to get a toe in the door but the condition for more $$$ was ‘get it validated and a strategy formulated and prove to me this is not just another whatever’ ?
Either way your cash concerns should be gone and I’d be grateful they didn’t try to pull a discounted placement on existing holders. Could there be honourable people involved?
The website has a few broker reports valuing between 5-14c so with any future cash needs curable with at least 35% of the register now managing it and capable of writing cheques for at least $8m I’m wondering if today is going to get follow through if this gets press coverage. AFR200 member takes Chairperson and majority stake is newsworthy.
Was there any obvious failure in Jan/Feb/Mar that made the SP fall or just cash concerns?
I only had potash on my watch list but now I am adding phylomers.
PYC Price at posting:
3.3¢ Sentiment: Buy Disclosure: Held
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