Originally Posted by
Scooter
I have been watching this investment closely. There has been large sellers on this stock for a little while, and I think the last one pushed the stock down to 1.6cps due to the ability to exit on the volume needed as that is where the buyer support was. The rebound to 2cps was a bit quicker than expected, but the large sellers appear not to be there anymore.
The factory is late, and this has been published, it took longer than expected to get council signoff, and the factory from my readings should be ready around September this year. Costing a bit more ($3 million) than expected, and I don't know where the money is going to come from. Hopefully from cash flows, or as they have low debt, the bank. I think it would be silly going back to share holders at the moment.
Yes, it is a shame to have the Chair and CEO leave, but it looks like CEO is keen to stay involved, even at a lower level. Not a bad sign really.
Looking at the selling depth, at 2cps 3 sellers, total 830,008 shares, 4 sellers at 2.1cps, total 977,717 shares. Not much really compared to what has been there.
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