Today's VWAP was 54.3 and it appears 60 is our next line. What was of interest today was the volume (3.061m), the size of the buys and I suppose the current gap in visual market depth. It's going to be very easy raising money in the future with 109m (undiluted)shares on offer at 54 plus cents which de-risks her nicely IMO.
It's sig. also to note that we don't have a substantial shareholder and that 15m shares are to be released from escrow on the 30/09/10 and another 6.7m are to be released on the 30/11/10. In total, we have fully diluted (excluding the unlisted options)a market cap of $86m (160.5m shares) at 54 cents.
Today really underlines the ongoimg high expectations of the market for HUN. Coalspur Mines, Cockatoo Coal, Cougar Energy and Northern Energy Corp. are comparable peers. Wood and Flavel have worked together previously which will help.
Today's VWAP was 54.3 and it appears 60 is our next line. What...
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