TIE 5.26% 30.0¢ tietto minerals limited

Getting very cheap. Me thinks that Dr Fu might be behind the...

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  1. 10,813 Posts.
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    Getting very cheap. Me thinks that Dr Fu might be behind the recent price drop as he certainly doesn't want to see the VWAP get up over 21c. From the announcement from 8th March:

    Tietto is pleased to announce that it has entered into an agreement with Hong Kong Ausina Investment Limited (“HKAI”), an entity controlled by geologist Dr Minlu Fu, to place:

    (1) 3.33 million ordinary shares at 21 cents per share to raise $700,000 to be issued immediately; and

    (2) Up to 25.24 million ordinary shares at the higher of (a) 21 cents per share or (b) the VWAP for the 20 trading days to 30 April 2018 to raise $5.3 million. The second tranche is conditional on HKAI completing due diligence on Tietto’s Abujar project to HKAI’s satisfaction.

    Of course if he has decided to pull the pin and this has leaked then the SP makes more sense.
 
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