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ANO - ADVANCE ZINCTEK LIMITED


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  • 3 months later...

Hi all

 

Looks like someone has formed a very bearish view of ANO judging by the 2.5 million + shares offered for sale this morning at 3.5 cents - although I could see nothing in the quarterly report or cashflow report which would promote a bearish view on how the business is developing. Maybe my modest top up yesterday at 3.7 cents was simply the KOD which prompted this whale size seller to bale out. :)

 

At 2.5 million to 3 million shares, the seller might be close to being a top 20 shareholder, in which case it should show up eventually via the Annual Report.

 

Maybe I missed something fairly bleak in the recent quarterly report, or maybe the seller is simply weary of week to week trading in ANO being either illiquid or range bound.

 

Any thoughts on how the business of this company is tracking?

 

cheers

doc-gt

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Hi Doc

 

I suspect the seller is a top 10 holder. There's still another 2.4 mill on the sell side at 3.5c, so combined the seller has around 5,000,000 shares to offload.

 

If I had to take a guess I would suggest it might be one of the following:

 

  • Old director e.g. Paul McCormick, Harold Clough (McRae Investments) or David Griffiths

  • Energenics

  • Uni of WA - unlikely

 

Harold has bang on 5 million, so it might be him.

 

Speculation aside, I'm interested to see who has picked up the shares. The last quarterly was a good result. Let's hope they can sustain the growth. The current market cap is starting to look cheap...

 

Cheers,

George.

 

 

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Interesting - thanks gliontos.

 

Regardless of who the seller is, it is odd that they would be baling at such giveaway prices.

 

The current market cap is starting to look cheap

 

Yes it sure is. Once again it has dipped well below the value of the company's net tangible assets.

 

cheers

doc-gt

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Still no light shed on who the big seller was last week, but it was encouraging to see the company's second largest shareholder (Ankla Pty Ltd) hoovering up the big seller's offerings in very decisive fashion.

 

cheers

doc-gt

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Hi Gliontos,

 

Do you know why Paul McCormick resigned from his position earlier this year?

 

Surely when the head of the business who started the company decides to quit, that must sound some alarm bells for you?

 

Kiril.

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Hi kiril

 

No idea. I too was a little alarmed when Paul resigned, but it could've been anything..

 

Retirement?

Illness?

Fallout with other board members?

Forced out (perhaps position is no longer required)?

 

Who knows...

 

I would be worried if Paul was selling his substantial holding and if the quarterly numbers were off. Third quarter results were solid so I'm not too worried.

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  • 3 months later...

Quite a nice preliminary annual report from ANO I thought - suggesting that sales traction for key products is steadily being gained.

 

It was good to see the Energenics placement issue sorted fairly promptly, and to see some timelines opined by management for cashflow+ and profitability.

 

cheers

doc-gt

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