@strauss
Almost 35m being soaked at or about 2c... The free float is around 70-80m without including the top 20... Management and 1 large holder owns 60%> company... There must be couple of other large holders need to check the latest top 20... I think once the profit taking is done from recent placement takers which must be close as only 35m shares were taken by holders other then management and sub holder...
I personally think it will keep soaking for few more days before it makes a quick move towards 3c and find a new base there for few weeks...
Market for shells is ever hot even the other shells are getting extremely hot... This will help WPI plus the other cos ar performing again... ZIP has made a move upwards... Now if RSL does an acquisition in near future, it will make this thing ever hot...
We might to have wait 3-6months here which I am happy but in short term it will offer some trades as well... I for one, will be holding till the acquisition is made and I am all set to hold and buy more on any weakness below 2c...
It's EV is close to 3.5m which is close to VTX (3m at 1.3c) when it was at or around 1.3c for ages... And the group performance was almost half of what it is today... So another 1 or 2 for the brand name plus 500-700k for better structure would be reasonable to expect IMO....
P.s Everything in this post is based on my own observations and theories... So DYOR is highly recommended also double check facts and figures please...
Cheers
