Regal still had 32m shares as of 25/3. As a complete guess, and looking at the sales since then, I reckon they would have about 20m left. Their selling is the logical explanation for the stagnant shareprice.
Positive update today and +4m shares sold into the market keeping the price down [Regal?]. The good news is that this is creating a buying opportunity and they will be gone soon allowing the rerate.
I was also considering the possibility that there might be a cap raising to bring Nangwarry to production and this was holding the shareprice back, but those fears were allayed with todays update. Sale of stake, introduction of partner, tolling or debt funding are the options. I now feel much better and feel more confident topping up at these prices.
No love for VEN...... Not yet.
Regal still had 32m shares as of 25/3. As a complete guess, and...
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Last
0.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $15.02M | |||
| Open | High | Low | Value | Volume |
| 0.9¢ | 1.0¢ | 0.9¢ | $19.33K | 2.094M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 4968068 | 0.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.0¢ | 3107099 | 10 |
View Market Depth
| Last trade - 14.34pm 28/06/2024 (20 minute delay) ? |
| VEN (ASX) Chart |