The issuesyou and others raised incl. management performance re: project progress,information flow as well as debt situation are certainly valid. How come,however, that eg. following 8 Feb 2021 ASX announcement (Sengkang lng remappingcompleted) the share price rose over 50% (from a closing price of 9.4cents on 5 Feb 2021 to 14.5 cents on 10 Feb 2021) only to fall to 10 cents on 26 Feb 2021. Nothing has changed during the time period 5 Feb to 26 Feb 2021: debt remained the same, project time lines remain the same etc..
On 1 March2021 EWC’s Half Yearly Report which comprised the well foreshadowed decline inrevenue (and profit) and the more positive news re: SCPE loan repayment options(incl. EWI becoming a lender of ‘last resort’) and the fact that ROW issues areclose to finalization again led to a declining share price to 8.1 cents on 9March 2021.
In short,all issues affecting project development progress, management informationapproach, debt burden etc have not changed and have been well known to all concerned for a very long time. Yet the extremely positive news ie. the resolution of the land issue (Sengkang lng) on 8 Feb 2021, combined with the positive ROW progress and the foreshadowed SCPE loan repayment options on 1 March 2021 as well as the unwavering support for EWC by EWI and Slipform have continued the declining share price.
As jasmine10 commented on 22 Feb 2021: Go figure.
EWC Short Selling, page-11
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Last
1.3¢ |
Change
-0.001(7.14%) |
Mkt cap ! $43.10M | |||
| Open | High | Low | Value | Volume |
| 1.4¢ | 1.4¢ | 1.3¢ | $12.68K | 971.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 325000 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 417193 | 4 |
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| Last trade - 12.27pm 02/09/2024 (20 minute delay) ? |
| EWC (ASX) Chart |