Where'd you get the $60m MC from, mate? I don't hold, and actually share similar sentiments to you regarding this current Pilbara flash in a pan until proven otherwise. But... I have missed some good trades by being overly dismissive, so I try to plug in a bit more research before moving on.
I'm see MC at around $9m, with about $3.5m in cash (if they stuck to estimated outflows of $400k from last quarterly). This is yet to take into consideration terms of this deal, but still nowhere near $60m.
Stock liquidity has been glacial at best for a long time though, so can totally see why existing (potentially trapped) holders would be bailing out on a liquidity and SP rise event. Listed at around $0.20 (not sure what seed price was) in Jan this year, slowly falling back to $0.07.
KZR Price at posting:
15.0¢ Sentiment: None Disclosure: Not Held
