AXE 1.37% 36.0¢ archer materials limited

Archer Materials (AXE) – Marcus today Good dayyesterday with the...

  1. 2 Posts.

    Archer Materials (AXE) – Marcus today Good dayyesterday with the stock up nearly 20%. This stock has become far more volatilethan I had originally hoped. It becomes a prime target for the AFR and the memegenerators. Not something I had anticipated. I have written about this in the pastand in my original thesis. It was not about 'pump and dump'. Certainly, thinkany pumping and dumping was done by others.

    I was askedon Facebook about the iTech transaction. This is the sale of its mineraltenements, so it can concentrate on the quantum business. AXE will get 50mshares in iTech. It’s a good name, isn’t it? It implies something reallyspecial. iTech is heading for an IPO and the approval for the transactionand in specie distribution is being voted on Monday 30th August. This should be a formality. The IPO will open on 1st September and listing is expected towards the end ofOctober. Long time coming.

    iTechwill be a South Australian focus explorer with a halloysite- kaolinite projectand developing the Campoona graphite deposit.


    TheIPO will raise $5m at 20c. So given AXE gets 50m shares, this deal is wortharound $10m. These shares will be distributed to around 8000 shareholders inAXE. So roughly around $1250 each shareholder. It is pro-rata but that’sballpark depending on how many shares you own.


 
watchlist Created with Sketch. Add AXE (ASX) to my watchlist
(20min delay)
Last
36.0¢
Change
-0.005(1.37%)
Mkt cap ! $91.74M
Open High Low Value Volume
36.0¢ 38.0¢ 35.0¢ $116.0K 316.0K

Buyers (Bids)

No. Vol. Price($)
3 29387 36.0¢
 

Sellers (Offers)

Price($) Vol. No.
38.0¢ 13631 1
View Market Depth
Last trade - 16.10pm 17/06/2024 (20 minute delay) ?
Last
37.5¢
  Change
-0.005 ( 2.74 %)
Open High Low Volume
35.5¢ 38.0¢ 35.0¢ 144109
Last updated 15.57pm 17/06/2024 ?
AXE (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.