AW1 Technical Analysis, page-2314

This company launched on the ASX on 13/12/21.
Scanning the price/volume chart quickly, there was an immediate sell down from the 20c IPO price to 14.5c, and AW1 soon hit a 2021 low of around 11.5c.

How many shares?
[According to this IPO thread] AW1 started off with a 55 million share issue IPO at 20c each share (plus potential 20 million) giving a total of 154 million shares at launch … plus(?) 90 million (of the 10c pre-IPOseed shares) in escrow until 13/12/22 ….and a further 58 million escrowed until last December [notice of 13/12/23 escrow time’s up ].

Anyway it seems to me that, whatever the worth of the copper, there’s plenty in here who are disgruntled with the worth of their coin as it seems to me AW1 has NOT performed to early expectations, and many who were expecting to be in profit (and who have ‘stayed the course’ ) have been stuck at 20c or higher for a long time.

… And many stuck at lower entry prices too?​

Because looking at the [Prospectus] and early threads, the ‘first in’ here are still the best dressed at the 10c a share seed level (and anything lower).
But yet still -soon after the first release of 90 million escrowed (10c?) shares on 13/12/22 - the price here dropped like a stone in February 2023, and hit lowest ever *ouch* status prices for holders, lurking around the 5 and 6c level until mid June.
I guess plenty got in at that level?
And some of those were out as soon as AW1 was on the way to it’s ‘ best ever’ August 2023 high of 37c … When the periodic selling at periodic highs started in earnest again

(possibly those who exited had an eye to the fact another 58 million 10c shares were due to be released in mid-December).​

Anyway that was seven weeks ago, with holiday halts to trading along the way.
— So I wonder is everyone who wanted out before December 13 gone?
And what of those newly fledged 58 million shares?
And those who supported two capital raises around this level?

I don’t know what is around the corner for this company it terms of estimates of its’ ore value and other developments but at the AGM they said there was just $7m in cash as of 30/09/23) [ref]:





And that meant it was sailing so close to the wind that it needed to explain how it was going to keep going in the [September Quarterly] released on 20/10/23 ;


How much cash was left in December?
How many investors are feeling a bit sour?
How good will these pending results be.

(- And how high will the price go then?)​

(- And what value capital raise will be required at what price?)​

Anyway this company still seems to me to be subject to’ birthing throes shakeouts and if it does fall to 10c again I hope it holds this time.

And that was just a quick look but it also seems to me that TA tells stories like this too only charts are faster!

cheers