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.
Archer Materials (AXE) – Marcus today Good dayyesterday with the...
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Last
46.0¢ |
Change
0.005(1.10%) |
Mkt cap ! $117.2M | |||
| Open | High | Low | Value | Volume |
| 45.0¢ | 46.0¢ | 44.0¢ | $67.08K | 149.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10000 | 45.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 46.0¢ | 62985 | 3 |
View Market Depth
| Last trade - 16.10pm 10/05/2024 (20 minute delay) ? |
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Last
44.5¢ |
Change
0.005 ( 1.11 %) |
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| Open | High | Low | Volume | ||
| 45.5¢ | 46.0¢ | 44.0¢ | 94295 | ||
| Last updated 15.45pm 10/05/2024 ? | |||||
| AXE (ASX) Chart |