For those interested Crusader repaid Stratex back A$1.6m yesterday and this payment finally ends all association with Stratex.
I also noticed that CAS stock on AIM has fallen 15% today with over 1m shares traded. The price is down nearly 20% from IPO. Not good.
I can only assume investors are steering clear in the knowledge that more funding will come sooner than later, my guess is another raise will be necessary sometime in Q3, anyone doing the math's can see why.
There is no news on the buyer of the Possee mine, the buyer is in default and the last news statement suggested they were in talks concerning the situation, it was sold for A$3.2m to be paid over 17 months. I believe CAS has only received a fraction of that number to date. My guess is they may struggle to get all the money and may have settle for a far smaller sum of cash.
I think the stock will remain weak, the worry is what price the next fund raise and can they get it away, fully diluted there would be over 600m shares in issue right now.
CAS Price at posting:
4.0¢ Sentiment: None Disclosure: Not Held
