Ann: Equity Raise Presentation, page-43

Thanks Cosmoterios …..

I have a relatively minor position here and to my shame have not been following the company nor these threads .. not even when the shorting alarm bells started to go off like sirens.

That more than 11% of large long term holders have loaned out their shares to be shorted in recent times (11.33% on July 28 ) therefore comes as horrible shock




Last August no top 20 holder held anywhere near 11% of this company ?
So the company has been subject to a team attack?
Is anybody able to tell me who else has been shorting it please beyond the notorious State Street who has been diving in and out of the 5% line and most recently upped its’ holding to 5.02% - less than a month back on July 19 [ref]?

And the CFO was changed recently? [06/02/23]
… which followed the announcement [14/11/22] that previous CFO - Paul LacopettA - was stepping down leaving Core in ‘very sound financial shape’ (!!!) .

(Gareth wrote :”As a result of his efforts the business is in very sound financial shape and is well placed to begin working on the development of future growth options. We thank Simon for his strong contribution and leadership at Core and wish him all the best for the future.” )​

Obviously something went badly wrong after that, or something already badly wrong was discovered, as the results of a “ten month recruitment process” (commenced last September) introduced Core to two new leaders on July 06 [ref]:
“Pierre Malan as Executive General Manager (EGM), Development and Exploration and Paul Benjamin as EGM, Commercial and Marketing”

… with Paul Benjamin already started last month, so already steering ‘business development’.​

Spoiler : Top 20 holders last August?

https://www.marketindex.com.au/asx/cxo

NB but that is out of date as there was already a $100m institutional placement - at $1.03 a share announced last September 30 and completed [03/10/22].

That’s about when the hunt for Pierre Malan and Paul Benjamin commenced
And that raise was “well supported by new and existing high-quality domestic and global institutional investors in strong recognition of the significant available growth opportunities at the Finniss Lithium Project (Finniss or the Project).”

I don’t know about the Tesla issue, but it seems this raise is definitely a way for those important supporters to reduce their average price!


And then what?

cheers


PS To those who are sick at heart right now - please don’t give up.
Bad losses can lead to very good learning opportunities, and new earning opportunities too.
And from my naive perspective it seems to me that with this raise and any further price falls Core is being set up for a bounce.
And then?

Best wishes to all .