The purchase of Starlights' 6% was a huge win, which in turn is for every one of us, the Shareholders. The company has purchased 6% for 10M which is now worth 38M in just 5 weeks, that is a wow.
In respect to paying for it, another huge win. Our shares were worth 20cents at the time, a dilution of 50M shares could have taken place. As we can use current cash on hand or the LDA funds the worst case scenario now is a 10M dilution of shares, or as I suspect, considerably less, wow again.
Tran intimated all of this at the time( 24/3/21), so to see it unfold as predicted has been equivalent to a masterclass by the company. Timing is everything and nobody could argue the timing has been impeccable.
The other benefit of owning the 100% is well documented and one could argue the above is the lesser part of the benefit, wow again
HIO Price at posting:
88.5¢ Sentiment: Buy Disclosure: Held
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