XAO 0.27% 8,586.9 all ordinaries

Short Term Trading Week Starting: 19th Mar, page-76

  1. 65 Posts.
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    STTCOMP WFE, FA LONG

    Came out of trading halt today announcing they successfully secured $3.1 million from a capital raise at 0.005 cents. "The funds raised from both Placements will be used to fund due diligence on potential new cobalt acquisitions in the Democratic Republic of Congo and up-front payments on any new acquisitions made. The funds will also be used for general working capital requirements including corporate and administration costs and exploration costs incurred across the Company’s other projects."

    They have also teamed up with AirGuide to help with this.

    Michael Langford announced on Twitter his two investments are AVZ and WFE.

    Market cap $26 million, which seems high without any acquisitions yet, but huge volume today already with nearly 20% of the market cap traded. Big support below current price of 0.012 and a large roof above, so it won't move anywhere fast without some news I wouldn't think. Maybe a small pull back seeing as it is up 100%+ today.

    If the acquisitions are good, the share price could easily bag from here, and to me it seems they have the right team behind them.
 
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