''someone sells $1350 worth of CSD and drops the price 7%, and people here are telling me this isn't a spec stock?'' I've heard it all.''
So far this week approx. 56k shares for around $3000 value have changed hands in four trading days..
The market imo is :
Awaiting execution of mou and conversion of convertible note to bring the share capital to well over 1 billion shares
Awaiting for the outcome of discussions to raise further capital to fund operations and possible tin production CAPEX estimated $76m ( as per asx announcements).
At current prices if capital is raised IMO it would lead to a substantial increase in share capital above the already 1,054,000,000 anticipated.
CSD has already sold off 80% of its share capital and now has stated several times it is in advanced discussions to raise capital - imo the market is uncertain to how many more shares will be needed going forward
Awaiting for the shares to be issued to 79.51% majority holder of which well over 550m will be held in escrow cost 5c until Jan17 ( 2 years from takeover of SPM assets date of Jan15)
DYOR and always refer to CSD announcements for facts
CSD Price at posting:
5.4¢ Sentiment: Sell Disclosure: Not Held