I think there were 160m shares issued at 1c upon relisting.
However, the following should be noted:
- a lot went to LT holders
- some went to new management (hence LT)
- since relisting CLA hasn't traded under 2c (100% up on the raising)
- the last 3 days has seen over 100m in volume
So it seems that the flippers from the 1c issue are out given the volume & price action since.
The register is very tight now given the top-20 own over 70%
Brendan Borg's involvement with this company brings some significant investors who have followed him to success after success. IMO this has contributed significantly to the constant buying over the last couple of days to absorb any residual sellers.
We now have an excellent base at 3c with Mr. Borg steering the ship with a commodity in structural deficit (cobalt) and hence high demand as the Lithium Battery era charges forward.
I made the mistake of selling ESR wayyy too early because I second guessed my initial thoughts. I will not be making the same mistake with this one.
30-50m mkt cap during this first drilling program is my target. (10-15c)
CLA Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
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