Interestingly, whilst many retail investors have sold VML since they announced their strategic review, Cannacord Genuity, who describe their business as a global, full-service investment bank based in Australia, Canada and the UK and focused on growth companies with operations worldwide, have purchased over 76m VML shares (in the period 19th April to 25th April) for a cost of $870,000.
Management changes and strategy changes have understandably spooked many investors however the reality is that conserving cash whilst establishing the larger resource, especially whilst REE prices are soft and expected to recover strongly, is probably the best medium term strategy for this business. I presume investors like Cannacord Genuity have bought in for this reason.
VML General Comments - Chat, page-7580
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $17.68M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.3¢ | $8.252K | 2.750M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 76 | 75935987 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 126962 | 2 |
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| VML (ASX) Chart |