I am suprised this hasn't been discussed given the change in substantial holdings notice announced yesterday.
TFA have now bought 550k @ 10cents(which is big for FWL) and at other prices in the past few days. That is another 1 million shares taken off the market, tightening up the register.
I have never seen a major company buying on market, as well as doing placements @ 20cents, and not in a takeover scenario? How much more stock can TFA take up before they have to disclose their intentions.
If TFA convert the options @ 24cents and when they do the next placement @ 20cents of 10mill shares, they will hold over 30% of the company.
Add to this their injecting $20mill to get Yogi up and running, have said they want first rights to any share of production FWL has. Are fast tracking the process. With all that buying of shares, tell me they dont want FWL as a whole. What price would you accept ?
I just cant understand why anyone would sell @ 9cents, when TFA is this agressive in their aquisition of FWL shares. Crazy days, or is it just crazy Sin-Tang :p
LCG Price at posting:
8.1¢ Sentiment: Buy Disclosure: Held
