70 odd million fully paid shares (well almost after some listed freebies) on issue for a market cap of about $5.2 million and enterprise value of around $2 million.
Another 40 million freebies to be tradable after June so expect the sp to slip to 5 cents to maintain the $5 million mc.
BH continues to claim Australia’s biggest and best clay RE deposit and challenges the Brazilian projects.
MEI $440 million mc, Brazilian $15 mil mc and so on and OD6 can’t crack the $5 million mc.
A new major shareholder cornerstone investor is required here. Someone who is prepared to back this company in a SPP. The existing Board and management have shown no confidence in the company in the recent SPP. More than disappointing.
Ann: High Metallurgical Recoveries Continue at Splinter Rock, page-3
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