the company outlined that we will see SXT reinstated as LPE on Monday, 7th December. It always takes a few weeks as there is a lot of paper work to be done. In fact, LPE is now a brand new listing - a backdoor IPO.
If the timeline stays then on Monday we will see a lot of ASX anns regarding LPE. Trading could resume at open or delayed at 11.00 or 12.00. It will take a few days for some existing and new holders to understand what happened. Many, including me, have accumulated a core holding and were waiting for all papers to be signed. There was always a remote chance that the big guys would have taken over LPE before the ink dried.
If that would have happened our investment in Metal / Oil explorer SXT would have become worthless. Now we can expect to have hit the big jackpot. LPE is not just a new type of energy retailer, it also holds one of just 23 licences to built recharge stations for e-cars / bikes. LPE has already secured the expertise of an US-company which is the number one over there for recharge stations.
The market had enough time to jump on board but ignored all our calculations. Monday and Tuesday might be the last chance to buy sub 3c, once the wider market understands what LPE has achieved it will trade a lot higher. The cap rising at 2c was not an usual one, there were no CR-sharks involved. The newly issued shares are unlikely to be sold at 2.1c as so often happened.
If all went according to plan as stated then the profits / turnover stated in January's 4C will justify a sp between 5c ( very conservative at PE 10 ) and 15c at PE 30.
That's why I doubt that we have many opportunities to buy sub 3c at re-open.
SXT Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
