Not disagreeing with this much but surely bloated SOI can just be written off as par for the course for a speccie mining co.
Agree people would want to tread very carefully here. db_nolan is certainly coming from an informed place. It looks more like a general capital raise than anything else at this stage and hence the market reaction.
That said I am curious / optimistic about the ease at which they captured $5 million. If the insto is after a scalp off the top then they won't get much of one here relative to their investment considering the discount + the volumes. Doesn't feel like a smash and grab to me. The insto might be able to clip $200-250k off the top if they were to sell down their shares fairly aggressively over the next 30 days. After that point if they're still holding the shares they risk the SP tanking if no positive announcement regarding an off take partner is forthcoming prior to the end of sept.
Seem too risky an investment just to clip 5% off the original $5 million
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0.8¢ |
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Mkt cap ! $11.18M |
Open | High | Low | Value | Volume |
0.8¢ | 0.8¢ | 0.7¢ | $9.72K | 1.222M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
23 | 4668584 | 0.7¢ |
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Price($) | Vol. | No. |
---|---|---|
0.8¢ | 3941266 | 14 |
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21 | 4242870 | 0.007 |
33 | 43609111 | 0.006 |
14 | 31800199 | 0.005 |
9 | 8654750 | 0.004 |
2 | 2400000 | 0.003 |
Price($) | Vol. | No. |
---|---|---|
0.008 | 3751266 | 13 |
0.009 | 4492533 | 9 |
0.010 | 3523130 | 23 |
0.011 | 4268820 | 12 |
0.012 | 4135705 | 7 |
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