Bob's hype vehicle really is a farce.
He owns 80% on listing, raising A$125m and reimbursing exploration for $30m. Net cash per shares after costs circa 12 cents?
Value of tenements, with no resource disclosed as yet and pretty aveage drill results disclosed in prospectus, less than $20m? That gets asset backing to around 20 cents max!
Ego starts buying back day one to around 83% of the company-paying north of $1.60-noting that only 2% of the stock following the IPO went to Aussie residents!
Reckon at this rate by the end of next week he will have privatised it again!LOL
Cheers,TAS
toxic
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