With today's substantial holder's announcement released, and with the two recent CR's out of the way, It seems we have reached the destined structure envisioned by Matthew Walker and Cicero.
An opportune time to summarise.
- BLZ is a Cicero shell.
- At 6,5c EV is just $4.2m; MC is $7,5m but that includes cash on hand of ~$3.3m ($147,000 from last qrtr plus recent raisings $1.2m and $2.12m {minus 5% fee}). It is now the richest of all MW/Cicero shells.
- It has 115m shares on offer and MW and his Cicero clients/associates hold 97m (84%) of the total float. There are just 18m shares of 'free float' not held by MW inner circle or the man himself. There are no options to dilute the float. Under rule 7.1A could theoretically place max 1.9m further shares at 75% of 14d VWAP- no other placements without new shareholder approval. This makes it the tightest set-up of any MW shell.
- Mathew Walker himself originally bought 2m shares in an early placement for $64,000 (price 0.032). He recently participated in the last CR to the tune of a further 4m shares at 0.04 each. MW total holding is 6m of 115m = 5.2% of the entity. He invested $224,000 of his cash in this holding.
- In early Dec two existing directors were replaced with two Cicero directors although not MW himself yet. BLZ office moved to Cicero offices.
- At recent AGM, resolutions were passed to seek new acquisition (wording specifically favoured the technology or industrial sectors)
- Agreement reached with KMM allowing transfer of asset (tenement) in lieu of debt if chosen to by BLZ. so no material debt.
-Expected cash burn negligible at ~$20,000/yr per AGM report.
So MW holds almost $400,000 at the present SP of 6,5c and together with Cicero clients/associates controls 84% of the total stock. He'd be most keen therefore, to deliver for his Cicero associates and himself. As
@Green Bull has mentioned, this could be the pick of all Cicero shells.
The above information and calculations are approximate only and might be subject to error. Please check all facts and figures for yourself ! Then please let us all know so we can present the most accurate information here for everyone.
