I think the Maverick spinoff was only in relation to the NSW gold assets (which were being added to other assets being combined from elsewhere to create the IPO).
The issue with Cloud 9 is that the demand for H&K appears to be very modest as does the appetite for capital to fund a new mine (for anyone seeking more info, spend an hour or two researching ADN’s disaster over the last 2-3 years). I think ADN actually touched an insane $1bn mkt cap at one point.
I do agree with the commentary around CG holding far too many board positions. His LRS holding will be worth tens of millions of dollars at 30-40cent SP and if LRS ends up as a significant global producer then theoretically he could be worth $100m (would need a ~$1.30 share price). So I don’t know why he has ended up on so many boards - what’s a few hundred grand extra when your LRS shares are on the way to making you worth more than $50m?
I think the Maverick spinoff was only in relation to the NSW...
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Last
20.0¢ |
Change
-0.005(2.44%) |
Mkt cap ! $559.8M | |||
| Open | High | Low | Value | Volume |
| 20.0¢ | 20.5¢ | 19.3¢ | $5.462M | 27.56M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 202667 | 20.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.5¢ | 6654078 | 37 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| LRS (ASX) Chart |