It is a long road and very frustrating. 1) re. the 50M exercised in Feb.. This is just frustrating.. The owners were the people that recaptialised the company 3 years ago when it had nothing. They are largely responsible for several dips in priced as their tranches become due.. After Feb we saw a decline as they sold down their holdings. They did however transfer some of their options to a director (at .7c I beleive) and he held them (announcement re Director change in Holdings). 2) There is another tranche due soon. To be honest I am not unhappy the price is here where his options are no longer in the money.. I would prefer a cap raising bringing new investors in at this level whom are interested in the story and holding a position then 500k new money where you know the shareholder will sell down into any rally above 1c.. So if it was to stay at this level until end of June and take that shareholder out of the option money I dont think it is bad for the company. I am more intersted in who comes new onto the register in this cap raising. 3) My personal view on a JV in this case where we look to have quite a good resource is the best time to consider this is after a intial JORC is completed which is the end of the year. I think any cap raising now would be planned to get them to JORC. I think this could maximise value for existing shareholders in this uncertain climate..
My opinion only and definetly not advice...
TAW Price at posting:
0.9¢ Sentiment: None Disclosure: Held
