I would take no news as good news, based on their latest revised projections sounds like the large projects are well and truly ramping up. With no talk of SPAC in that announcement I would expect it is progressing as expected.
We will get an update in their next quarterly on the progress. It is really now or never for the deal as they have until end of Aug potentially October for it to go through.
With the uptick in price from 11.5c to 18c there may be inside knowledge slowly pushing up the price by lack of sell orders or could be just because there really isnt any trade flow since it is a penny stock. Probably do not read into it too much.
If they do get the SPAC deal to go ahead with the expected 70% redemption as notified in the March announcement it is likely CBR will have just shy of 100m USD in the bank with about 50% dilution. This will give them the needed capital to function for the next few years and fund their expansion needs.
In summary if this deal goes ahead I expect the current price to trade 3-4 times the current price but if it doesnt I am writing off my holding as zero. Good luck to all holders over the next 3 months.
Side Note: I originally bough at $1.60 and have averaged my holding to 33.7c so either I am the most naive investor or this will be the best investment I have made. I assume a fair few holders here are in the same boat. I hope the macro stays kind until October since it could make or break this transaction.
