Figures are for post consolidation & based on the maximum subscription ($4.5 million) which is what i fully anticipate to be taken up, likely to go over that amount (as it has the capacity to do so within the prospectus) with the interesting this has & will continue to generate in the near future
Shares on issue: 540,441,209
Market Cap: 24.3m @ 4.5 cents per share
Current cash on hand: $6.4m + $4.5m from raise = $10.9m
APY has been on my radar for a while now as I was expecting an acquisition that would be something with a mammoth amount of potential - I wasn't disappointed. Ignore the recent distractions and focus on the foundations that have been laid for this company to deliver us shareholders value once this company re-lists.
GW & co as reflected in the past have a long history of delivering. You can go as far back as 2002 when Whiddon was the CEO of Grove Energy which at that point in time had a market capitalisation of <$5 million. Fast forward to 2007 & you have the same company being acquired for $150 million. Currently holding over 105m shares between his wife's fund and himself & continuing to buy up, even until very recently. Big skin in the game & 'money where his mouth is' so to speak.
Joining GW will be the Havoc Partners boys, headed by Stein & Taylor joining the Azonto/Calima board who between themselves have a track record to be envied & will assist in driving this vehicle. Having the ability to raise $235m & be the largest ever capital raise within the sector/most successful listing of the year in 2011 with Ophir is an amazing achievement, with that same company worth $2billion a year later. The deep pockets they have access to is ridiculous as history has shown and don't expect it to stop anytime soon with the amount of $$ the neighbours of Calima in Montney have been projected to be spending on the region this year alone.
Current share price of 1.2 cents HAVING SOLD THE SHELL for 1.5 cents is ridiculous IMO. Share price has to be @ the 1.5 cent level for this current deal / recon to go through without being re-prices. With the Havoc boys / GW & co now aligned, I think this is almost a given considering the exhaustive nature of having to renegotiate a deal on the premise of the share price being a couple of pips away from where it should be. Expecting some decent buying coming up next week.
Relating to the Montney itself, the prospects are insane. Bordering both Black Swan & Saguaro Resources (who have a $400m line of credit for the Montney alone) who have both had outstanding results already, any level of success would see Calima ripe for a takeover bid. The Calima boys are expecting results to be similar to Saguaro which would offer a great uplift in SP.
Prior workings suggest they may be on to a winner here & at 1.2 cents, I believe there is a significant amount of risk taken out of this investment considering the 1.5c price deal + everything else that has been stated.
A grade management - tick
'Big boys' on board - tick
Newly aligned with Havoc - tick
Montney prospects - huge
Calima Energy is a big buy IMO
APY Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
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