norgold... well at least someone has heard of cdu..6 month out from booming .....
will this be the next one...shaping up well
I speculated a rise of 20 to 25 %...was being conservative...but closed on the 20% rise....
now I expect ,by friday ,more results or at latest monday.....
...to keep up the interest......
I personally expect...the company will see all options exercised in about 5 mill lots..raising $5mill approx......
then I believe the share price will be high enough to place stock at around $1 ..to sophisticated investors......
i believe they will place 15% of the total stock on issue plus more.....and then seek shareholder approval for the lot...and it will of course be approved....then allowing then to do another 15% placement later on...without any approval being required...
its a low issue stock...so they have plenty of room to move....
as at 31/12 /2012
shares on issue
85,405,328
very low issue and held tight.....
TOP 20 as at 14/09/2012 annual report
top 20 held 31,543,557 shares or 42.95%
that left 53,861,771 freely trading
so its easy to see why anyone or parties with a substantial amount of shares and cash can determine the trades in this stock...much the same as has been seen in SIR.....
it appears OZL had some confidence in the stock when they sold the tenement packages in NSW in exchange for 1 million shares ( re BIG Ben Group)
31/12/2012 qtr report shares on issue
85,405,328
OPTIONS exercise 20c 25,598,752 to raise $5.1 million..when exercised...
750,000 options at 40c exercise
Cash on Hand 4,870,000 Estimated cash outflow March 2013 Qtr