So with this particular vanadium junior …
Why is it trading ‘as cheap as chips’?
The rainbow goddess for whom vanadium is named must have snickered up her sleeve a bit when she blessed AVL with so many good things going for it, because she also determined that there would currently be about 8.6 billion shares on issue .
Yep that’s ~8.6 billion
(And for an idea on how many shares that is, I looked up the other daythat there is 65,000 kernels of wheat in a kilo and 80 kilos in a sack — which gives 5.2million grains per sack … which I think adds up to about 1,654 sacks of wheat worth of shares)oh well.
Remedy?
There was a new CFO who started this financial year who seems to have a good reputation for splitting companies up, merging them together and, hopefully, also consolidating gazillions of shares at some time soon…
His name is Tom Plant.
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If you look him up you’ll see he seems pretty capable, and if he ever does get in a quandary he can very easily have a chat with one of AVL’s new non executive directors, Miriam Stanborough, who is also a CFO - over at Paladin Energy.
But those cumbersome shares?
So far they are owned by a rather small group of people - many of whom paid nothing or not much at all.
Before the merger TMT (used to be next door to AVL) was about 60% owned by the top 20 holders
And at its last annual report AVL was 30% owned by the biggest shareholders
And up till now, despite the merger having gone through on February 1, 2024, AVL seems not to have updated its Top 20 list :/
… but I guess it will ….. soon?
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