IPO was at 20 cents. I can't see from the chart that many holders would have bought in below 18 cents.
As for a poorly managed IPO, from his interview "Joe Kaderavek: Sure. We were given a lot of advice on trying to keep the structure tight and provide incentives to hold. We are focused on building up and improving the quality of the shareholder register over time. So from day one there are 95 million shares in circulation. We also have another 28 million options, which have been granted to incoming shareholders on a one to four basis. The options have a price of 25 cents. The options will list three months after the stock lists, which will be on the second of May, 2017. The options will have a three year duration. The advantage for shareholders is that the options are listed, and they can freely trade those options without having to exercise them going forward. So, I think we have a very tight book, and the incentives that we have, with the option structures, will incentivize shareholders to continue to hold our stock."
Plenty of incentive for the company to get the SP back above 25 cents.
We've probably just doubled or even tripled our resource size, and we'll find out in June.
Cobalt fundamentals are still very bullish, and I don't think the cobalt sector has had it's "real run" yet.
Spec market is rubbish. Just got to weather the storm - they do say "stay away in May".
COB Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
