could turn out like that....
maybe a similar scenario to the MRK recon in 2008. That did the same thing, opened at 3.2 after a 1 cent raise - shot up to ~7 cents for the next week or two on pure speculation then was brought down to earth quite hard (even after it announced its acquisition)
Inherently there are risks with a reconstructed Co. ; Risks that the minor amnt of cash may not assist in the acquisition of something good ?, risk that if the acquisition invokes Chp 1 and 2 of the listing rules, will the Co be willing to effectively front the cash to go down that compliance path? And risk that the whole play is effectively a way for the proponents to make 6 - 8 x there money in a few weeks to unsuspecting punters willing to pay it upon the Co. re-listing.
The Co has a current mkt cap of what say $9.5m at todays close and ~$1.2M cash. Are we serious ? ? Surely the value of speculation of a potential acquisition sometime down the track is not worth over $8M today...and the actual retained assets....BDO has them worth $10K, a nominal amount to satisfy the ASX of a going concern......
for the 750,000 shares traded today , wouldn't take more than that to get price back down to maybe just over a cent.
Could be wrong, thing could have a cracker acquisition teed up and we may have Xmas in July!!
Good luck
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could turn out like that....maybe a similar scenario to the MRK...
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Last
2.0¢ |
Change
-0.002(9.09%) |
Mkt cap ! $89.47M |
Open | High | Low | Value | Volume |
2.1¢ | 2.1¢ | 1.9¢ | $63.75K | 3.165M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 291133 | 2.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.1¢ | 2171592 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 291133 | 0.020 |
19 | 4314134 | 0.019 |
29 | 5178183 | 0.018 |
26 | 5201348 | 0.017 |
16 | 4581768 | 0.016 |
Price($) | Vol. | No. |
---|---|---|
0.021 | 1962989 | 6 |
0.022 | 6645367 | 11 |
0.023 | 3536175 | 6 |
0.024 | 2510822 | 16 |
0.025 | 4410617 | 14 |
Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
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