I suspect he went to the states to drum up cash from investors and as commented on previously here, the current listing on the asx just presents way too many hurdles for the savvy / lazy yanks to bother investing their money in a relative minnow (in wbt).
Hence, a visit back to oz to meet with the reputable people at cannacord....
You'd be surprised, but the majority haven't discovered nor could be bothered understanding the WBT story / promise. With this comes opportunity eventually (if you are prepared to take a punt).
Given the raising through cannacord I expect to see more short to medium term volatility with the stock. Unlike the Israeli Pension Fund, they are not long term cornerstone investors and will be happy to either milk this by lending their placement or otherwise sell it off at btw $6-$6.50/share for a short term 20-30% gain.
I am hoping the $45mio gets us to a position where we have locked into and qualified at 22nm with a couple of 1st tier fabs, signed up and transferred the tech to 4-5 customers (with skywaters 130nm product offering), and signed up with a customer on a discrete solution (hopefully one within the automotive sector). If the company hits these milestones in the next 12-18mths we are onto a big winner here.
Atm this reminds me of the last CR: a whole lot of PR / pumping, then the CR, then a protracted price decline, then hopefully boom.
I personally will not be looking at taking my allocation of shares and will wait for the SP to drop to the low 4s high 3s, then load up again.
Gltah
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No. | Vol. | Price($) |
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Price($) | Vol. | No. |
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2 | 5950 | 2.030 |
8 | 62638 | 2.020 |
3 | 22799 | 2.010 |
9 | 35480 | 2.000 |
Price($) | Vol. | No. |
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2.070 | 2453 | 3 |
2.080 | 3515 | 5 |
2.090 | 12081 | 3 |
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