Most of the volume was some big shareholder dumping their holdings into the waiting arms of a big buyer. I have been accumulating at .009 to .01 after selling out at 2 to 3c due to risk of Voluntary Administration now resolved by the debt refinance on reasonable terms.
The so called expert valued Big Springs at $60million.
Well my view they will get at least $5million cash and $5million scrip, enough to repay the loan and top up working capital. I think the scrip part of the offer might be a lot higher, maybe upto $15-$20million which if the directors were reasonable people they would then distribute to holders
So I think it could be worth between 1 and 3c and you may get scrip in a company with the ability to develop BS which is why a bought back in
AWV Price at posting:
1.4¢ Sentiment: None Disclosure: Held
