On 0.002 pre-consolidation and suspension price, the equivalent of 20cents post consolidation SVL now trading at 15cents is considered a failure. I don't care what people say (nor what the future predictions are) but if you close at 20cents and re-open at 15cents its a total failure.
SVL raising $35m is a good sign. However I would love to see the Top 20 so I can officially verify who the new institutions are. I did note that in the AGM on the 6th June the vote was to pass for a raising of 300m@15cents which means $45m raising. Either $45m could not be raised which means feedback from Bell Potter that "its all filled" is a load of BS or there is a nice surprise still to come.
Just remember that we have paid Bowdens $2m deposit so we have to pay another $18m to complete the transaction. 6% raising fee on $35m is another $2.1m. Even though $35m is raised, SVL nett would be around $15m.
As of 21st June 2016, the camp that spoke about "wealth destruction" on this 100:1 consolidation is correct. Have to call a Spade a Spade.
People can speculate whatever they want about what will happen after 21st June.
SVL Price at posting:
14.5¢ Sentiment: None Disclosure: Held
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