T20 is heavy with CPS/JP, Glenn Widdon, Blackrock (T1 holder), Barnaby (Dir), Wheeler (Dir) and a few others.
2:1 consol so raise is effectively 1.5c pre-consol. Also despite it being a public offer I doubt anyone would get a look in (same as QNL/HGM) outside of the inner circle. Maybe CPS clients will.
So after re-comply and fully diluted it will have 540m SOI @ 3c = $16.2m MC, $3.5m cash so $12.7m EV for a tidy structure, strong register, CPS in control and the 2 high grade lithium projects.
Wasnt in it pre ann myself because of the re-comply issue I wasnt sure if it would ever deal in my lifetime but have just taken a small pos under raise price and not really bothered with the re-comply now its got an acq.
Might pay the money later on to see whos behind the vend in company
ENB Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
