Avd & AVDOA
IMO a 10 bagger in the short term (unless im missing something)
Mkt cap 2m and they just sold (and received the cash Monday) assets in Texas for 11.3million. This will pay down conv. Notes of ?5.25m to nil and the drawn amount of their bank facility (4.3m as at latest quarterly) leaving them with 1.75m cash (I.e it's tradin at cash backed levels)
Further, they have a 40million standby line of credit facility to use to make acquisitions. The company had said numerous times they are looking at energy projects to acquire. They wouldn't need to issue more shares (no dilution) due to the bank facility.?
To top it all off, top 20 hold 65% of issued capital and the directors have close links with the latest PXR (16m mkt cap) deal for coal in west Papua.
Again, am I missing something?? If not, IMO 10 bagger coming up!!!
DYOR
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