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Hi bmloho IMO the next step will be a MASSIVE consolidation to...

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riverbrae

2,515 Posts.

29/08/14

13:58

Post #: 13894602
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Originally posted by bmloho ↑

After this issue, they will probably have over 6800 shareholders with less than a marketable parcel.

That is, to stay listed they must have at least 400 shareholders with shares to the value of a least $2000.

As at the 26 September 2013

6929 Shareholders
3059 less than a marketable parcel
700 shareholders over 100,000 shares

Assuming that post issue the price holds at .005cent ( which I doubt, it would mean a market cap of $35million, working capital of $3.5million, and 3 marginal coal mines)

To have a marketable parcel post issue, you would need 400,000 shares valued at .005 cents.

To be in the current Top 20, you need 2,045,000 shares, if they do nothing it will be worth $10000.

The shareholder wipe out is total and complete.

Sad

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Hi bmloho

IMO the next step will be a MASSIVE consolidation to get a more manageable register

That may end up with just the Underwriters holding shares.

Could it be that it was the plan all along.

RB

CCC Price at posting: 2.0¢ Sentiment: None Disclosure: Held
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0 Great analysis

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