They need more capital so I am selling 20% of my stash in...

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140

19/08/23

11:11

Post #: 69431932
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Originally posted by kgtom: ↑

Some pretty silly remarks from both sides here. Excitement and disappointment!

The 'insider trading' one threw me. Why would anyone who knew what was going on sell their shares or short this stock. Because all OXT has been doing before this annx. was going down. You have to wonder why someone would post such an idea? Disappointment?

But looking at the annx. by itself, it isn't much. $1.55m! But it's what it represents that matters. If it proves to be successful, firstly BHP, the world's largest miner, could make far more use of it, and secondly OXT can spin this off to other companies. If BHP likes it, well why shouldn't you?

It's worth remembering that OXT's largest contract to date was with OZL, who was taken over by BHP, so BHP must already have a pretty good idea on OXT"s technology and are taking further forward steps. So, this in itself, is very promising IMO.

And, yes, as the bears pointed out, OXT will need a capital raise in the near future. The more contracts they get, the more money they need to fulfil these contracts and the more they will need to raise. But if they keep getting contracts the raisings will be done at higher prices and less dilution.

This is still a very speculative stock at this stage, but for me the rewards outweigh the risks. Time will tell.

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They need more capital so I am selling 20% of my stash in anticipation which I will put back in. Given that 3 shareholders control such a big chunk of the company it will likely be a rights issue. Usually stocks weaken if a CR is likely , but may not happen here due to FOMO

OXT Price at posting: 10.0¢ Sentiment: None Disclosure: Held
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0 Great analysis

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