someone mopping up cre crumbs, page-5

yeah CRE got a speeding ticket from the ASX becuase of this unusual trading - CRE said that have no idea why.

having the shares mopped up should make things easier to manage post delisting, but on my numbers won't lead to compulsory acquisition on any scenario.

unfortunately the higher price makes it more costly for FML to convert the CRE debt to equity (if that's what they want to do). note, if they wanted to they could've converted (85% of 5 day vwap) at around 3c back when i last checked in october.

it would be nice to get some clarity around this soon.

fml was my largest holding all year, but i sold down a third last week at a small profit. this was due to hints of missing production guidance (again), comments from CB in the newspaper saying they would fight any takeover of FML (he should be talking about maximising shareholder value not worrying about keeping the current team in control), and risks of overpaying to get rid of Stone.

happy to be proven wrong and top up again

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DYOR + DD