Not being cynical or suggesting "anything, but, maybe, there is "someone" who just "might" have a vested interest in keeping the SP as low as possible and has ample number of shares to "control" the market.
28 February 2019 U.S. FINANCIAL BACKING TO ADVANCE LAKE RESOURCES KEY PROJECTS• $1.65 million financing with the option to increase funding to $5 million completed with aNorth American investor The Securities issued under the First Investment Amount attract interest at 15% per annum,compounded monthly, payable quarterly in advance in cash. The Securities may be converted into fully paid ordinary shares in the Issuer (Shares) within5 Business Days of receipt of a conversion notice from the Investor The Securities will be Converted in accordance with the following formula:Number of Shares = ARA / Conversion PriceWhere:ARA means the aggregate of the Repayment Amount of the Convertible Security beingconverted by the Investor, plus any accrued (but unpaid) Interest which is due and payableon the Conversion Date. Conversion Price means 90% of three VWAP’s of the Shares selected by the Investor forthe 20 Trading Days ending on the date of the Conversion Notice
Ordinary Shares issued pursuant to SecuritiesAgreement as notified to the ASX on 28 February2019 6 May 2019 1,149,425 24 May 2019 1,157,407 5 June 2019 5,948,132 17 June 2019 8,327,385 16 July 2019 5,898,214 TOTAL 22,480,563 5% for I.C. Substantial Holder = 23,911,848
Two questions, Will the Investor continue to convert (seems to be doing so VERY regularly??!!) and become a substantial holder? Biggest question is HOW MANY of those issued shares does the investor still hold now??
LKE Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
