My guess - this was a back door deal between mates at shareholder expenses.
8th June 2017, we bought it for $2.5m in cash and 14m shares to payout the current owners. Cook said at the time:
"
The agreement is subject to Westgold completing a due diligence investigation into ACM"
$51m last financial year to recapitalise and now another $26m in working capital for the company, most likely due to the loss of contract at Northern Star. If ACM was not trading as a "going concern" and it was destined for bankruptcy, general the going price should be $1 and Westgold then spends the rest to payout and recapitalise the business. But handing over $25+m to ACM shareholders can only mean that Cook has no respect for Westgold shareholders.
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Last
$2.90 |
Change
0.150(5.45%) |
Mkt cap ! $2.735B |
Open | High | Low | Value | Volume |
$2.80 | $2.90 | $2.78 | $12.46M | 4.354M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
6 | 169942 | $2.90 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.91 | 9611 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 169942 | 2.900 |
2 | 59714 | 2.890 |
2 | 47031 | 2.880 |
2 | 57443 | 2.870 |
2 | 73029 | 2.860 |
Price($) | Vol. | No. |
---|---|---|
2.910 | 9611 | 1 |
2.930 | 76029 | 4 |
2.940 | 5258 | 1 |
2.950 | 5758 | 2 |
2.960 | 5258 | 1 |
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