Mate Iove your enthusiasm for this project. But it's a done deal. They aren't going into this wondering if they have the votes. The best outcome holders could hope for would be a free shares issue. Frankly management at FAU owe this to holders and it would only be right. Speculation around this or access to the raise I suspect has driven recent demand and improvement in the SP. It sure isn't that last batch of yawn-inducing assays from Gippsland driving increased demand. Hell, I even thought about buying some FAU just for access to this raise because I'd love to add a new highly prospective lithium project and I hate this company (but then i punched myself in the face and got over it).
I went through a fairly similar scenario with MLX a few months back when they spun out a mothballed Wingella Cobalt-Nickel project now owned by the new listed entity NC1 and MLX continued to hold 22% of the new entity. From memory holders received 1 NC1 for every 39 MLX held as well as the right to participate in the float. It wasn't a lot of free shares at the end of the day (but NC1 has 8 bagged since). Something along these lines would be appropriate I believe.
From memory you have stated you hold FAUO's...you may want to check your status with FAU with regards to the float as you are technically not a share-holder without heads and it is likely that you are excluded from participation.
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0.2¢ |
Change
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Mkt cap ! $3.623M |
Open | High | Low | Value | Volume |
0.2¢ | 0.2¢ | 0.2¢ | $137 | 68.38K |
Buyers (Bids)
No. | Vol. | Price($) |
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34 | 115602398 | 0.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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0.2¢ | 46601031 | 18 |
View Market Depth
No. | Vol. | Price($) |
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34 | 115602398 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
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0.002 | 46601031 | 18 |
0.003 | 135979334 | 17 |
0.004 | 11920024 | 10 |
0.005 | 11512014 | 5 |
0.006 | 2999990 | 3 |
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