Ann: Update on Liquidity Management, page-73

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SlugRacing

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03/06/25

14:21

Post #: 79296316
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Originally posted by rosencrantz: ↑

I come here for the entertainment
I come here for the education.
And I posted a few misleading detours yesterday in my petulant display of bravura .
Amongst them:
sev.en lacking the financial heft to buy any CRN assets. They have managed to buy a number of sizeable Australian assets to date so maybe they can do it again. But the US$40m outlay for the Notes - if true- is dumb.
no more sources of CRN borrow. Not necessarily. Whilst I believe L1 Capital and Australian Super have departed so no source of CRN shares to borrow there but what of the professional punters which have been buying in these past 10 weeks? They are very likely to have funded their outlay with margin loans from from investment banks like Goldman Sachs. It is entirely possible that the lender and their custodian providers are all too willing to provide that CRN stock to new borrowers ie shorters! And, one cannot rule out the possibility that major shareholder EMG group is lending out the CRN stock ..though I would be surprised.
So do I still believe that a short squeeze is developing?. Yes. The opening of fresh shorts at these prices is dangerous..and I suspect is being done by inexperienced, ill-educated operators. Looking at the CRN 10cent-11.5cent market at this moment...14m CRN on the buy and 4m on the sell. Shorters be afraid...be very afraid.
Lesson over.

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I like your EMG theory, if I owned 51% and wanted to buy the rest, the longer this goes on the cheaper the buy out price. I would be hammering this to 1 cent if at all possible.

CRN Price at posting: 10.8¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 13.5¢		Change 0.000(0.00%)		Mkt cap ! $226.3M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
2	3427	15.0¢

Sellers (Offers)

Price($)	Vol.	No.
11.0¢	46401	2

View Market Depth

No.	Vol.	Price($)
7	314377	0.135
28	2891605	0.130
23	1581860	0.125
25	2027414	0.120
26	2115363	0.115

Price($)	Vol.	No.
0.140	2729800	21
0.145	1751150	17
0.150	889821	22
0.155	897528	16
0.160	798198	14

Last trade - 09.45am 30/06/2025 (20 minute delay)

CRN (ASX) Chart

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