Just thought I'd share my reasons for getting on board, and find out why you are here too.
I got in after the announcement that Steve Parsons (of BGL) was a substantial shareholder, and that Shorrocks (BGL, AUT) had just recently got onto the board. I didn't give any value to existing CY5 projects - instead looking at what these guys and the associated individuals around them had done. In short, they create a lot of value for shareholders, particularly those who get in early.
Since then, they've loaded up on options, created a nice parcel of options for 'technical advisors', changed the constitution to the same as AUT and the registered address to where BGL, AUT and BSX are registered. Another poster noted that in an early AUT presentation for Pickle Crow, Shorrocks had said that they were looking at 3 separate projects to potentially pursue with Auteco, before settling on Pickle Crow. Two may potentially still be in the wings.
My hunch is that CY5 will be used for one of them - there will be a reason that this team has moved into a new company - to launch a new project. With murmurings that BGL may be taken over by SLR (in the Australian earlier in the week), Steve Parsons would be freed up - he's already a substantial holder in ay case.
So that's my line of thinking. Worth saying that I came to the party relatively late - my average price is actually 21.5c.
I'd be really interested to hear if you're in for similar reasons, and equally interested if it's other reasons entirely.
Cheers, enjoy the weekend.
CY5 Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
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