RE: STGR25 Oct 2016 12:22
Somethings got to give IMO, rumbles like this, smoke signals...
It's now 1.9p to buy any amount. Spring like that in the Ask only comes about when the MM have no shares IMO, so any decent news (tranche 2, RTO venture etc) would surely see this pop? I said that over summer and it was a big surprise to me the funding news wasn't good enough for the bulls to start reigning - shorters pushed it back to the beartrap.
But one day they won't be able to keep it here - maybe something behind the scenes, a slap on the wrists from the risk department or a genuine buyer?
As for Bass stake - I know they were working around both ASX rules and Australian corporate ownership rules that allow them to preserve historical tax losses so long as the balance of ownership doesn't shift too much.
It could of course be a BS excuse, but the idea is that the STGR ownership pecentage stays in line with the cash injection. So they did the raise, they should use that money to make Tranche 2, we get tranche 2 percentage, then Bass raise again to complete Mahefadok, we get Tranche 3 after dilution, everyone is happy.
Apart from LTHs here are not happy at this SP, of course.