that's right mktcap $30m with over $6m in cash and a variety of products just hitting the market.
The lack of SP movement after the raise also had me wondering so I called one of my brokers I occasionally use and they said that SPP's sometimes need time to wash out but that really everyone is waiting for the first announcement of cash from products sales coming in. Although the company already has revenues a separate announcement talking about revs directly relating to their new FR chemicals is what I think the mkt wants (and then repeat orders thereafter!). I have several brokers that sometimes call me or I sometimes speak to and I can say that there is definite support from both Macquarie and Baker Young (apparently its not the easiest story to get, but what is hard to understand about making polyester FR?!?!) and its prob fair to say that if Baker Young didn't support the company with the initial raises it might not be here today (& I wouldn't have got to know about it either) so I guess it continues to be one of the standout opportunities that people (who know about it) say I'll buy when they've proven this, made that many revs etc - well by then I doubt it'll be anywhere around these prices. Good luck to those that are patient, hopefully we are rewarded many times over!
AJX Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
