I do not think they completed that placement for the $100...

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11/01/24

19:03

Post #: 71838233
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Originally posted by #lancearmstrong: ↑

Disclaimer – As I have previously said, I had written this investment off in my head so haven’t closely followed Hotcopper posts or announcements. There’s a lot of commentary about prices and what’s considered cheap and what’s not. I still can’t get my head around how much we own of what.

I’m more interested in market capitalisation. This might have been discussed elsewhere or each of you have your own sums.

Shares on Issue at 31/8/20 was 5,754,856,762 (taken from https://aust-sino.com/Investors-Media/Capital-Structure). I’m not sure what the share price was on that day but if we use 1.7c, we had a Market Cap of $97.8mil.

On 17/11/20 was the announcement of a placement to raise $100mil at 1.3c or an additional 7,692,307,693 shares (I assume this proceeded?). Has ANS issued any further shares? I’m also not sure what happened with the unlisted options.

With this, ANS has at least 13,447,164,455 shares on issue. I’ve said I’m happy to take 15c for my 1,000,000 shares. If Shares of Issue is correct, that values ANS at just over $2bil. Maybe that’s high, maybe that’s low – but I’ve got no idea what % we own of what. It is a 20x market cap increase and I’m happy to exit at that.

Now waiting for the crowd to yell at me.

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I do not think they completed that placement for the $100 million (happy to be corrected if this is incorrect). Currently 5.7 billion shares. Other thing to consider is the Midwest loan agreement will convert to shares at 1.3c.

ANS Price at posting: 1.7¢ Sentiment: Buy Disclosure: Held
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