While there was a high of 79c yesterday, the VWAP did not come close. Today's VWAP of 70.67 was much higher. Close of 72 was pretty good today as yesterday's close of 77 was a bit flattering.
A bit more info:
The company stated that it will quickly develop into a producing gold mine. Carr, the Principal Director, who founded Carrick Gold (huge in 2005), is a top man. He has 10 mill shares. On listing, they raised, $2.6m. Cash assets are 4.3m.
There are 6 mill unissued shares (options) exercisable at 20c on or before 31/12/08. 17 shareholders own 63% of the listed shares. They are listed in Berlin.
The current listed number of shares are 13m with approx 12m in escrow, giving the current diluted MD as only $18m.
This could fly to well over a $1.00/$1.50 in a matter of weeks. Incredibly tightly held and very well managed.
Look out IMO.
SHA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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