Looks like it was a tight placement and well bid. s708 last resort aggregator sites like Fresh Equities received zero allocation which is a good sign as they are generally comprised of loose hand arbitrage flippers. COB now fully funded through to Demo Plant!
With a 2-tranche placement not expected to be finished until August trading will likely be subdued and my expectation is that we will bounce around in this 30-40c range in the absence of any unexpected news or developments.
As much as I would have preferred the option's strike to be higher (e.g. 60c, 100% gain from 30c placement price) once we have the demo plant up and running and offtakes hopefully secured i think all will be forgotten and the cash injection should help reduce the need for further cap raises to finish the DFS.
Overall, COB is a long-term hold for patient investors and not one for those looking for a quick flip.
Looks like it was a tight placement and well bid. s708 last...
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