http://stonewallresources.com This tripped my volume alerts today - there's an award due in - 55% of US$118M claimed as compensation from Shandong Qixing Iron Tower Co - and the new investor presentation is comprehensive & compelling imo, so I'm in for 125000 shs at 1.6c http://www.asx.com.au/asxpdf/20160809/pdf/4395z4dvqhxpqt.pdf DYOR VRS
Scooped up a million @ 1.6c also. Have been waiting for RVR to come down/consol. but it's still taking off.
certainly not a lot on offer on the sell side, but the buy side has a 0.001 bid, is this to hold prices down or some other game?
Trading halt: In accordance with ASX Listing Rule 17.1, the Directors of Stonewall provide the following information: 1. The trading halt is requested pending the completion of capital raising discussions which the Company is currently engaged in. 2. The Directors of Stonewall request a trading halt until an announcement is released, or the commencement of normal trading on Thursday 18 August 2016, whichever occurs earlier. 3. The Directors of Stonewall expect the trading halt to be ended upon completion of capital raising discussions and the release of an announcement pursuant to these discussions. 4. The Directors of Stonewall are not aware of any reason why the trading halt should not be granted. 5. The Directors of Stonewall are not aware of any other information necessary to inform the market about the trading halt.
They're not going to be strapped for cash LD - with this cash settlement due in imminently I suspect the CR will be a placement for sophis investors, not instos...
Probably just covering there bases in case court action doesn't go their way... Raise while price is at a high. Not a lot on the sell side for an almost 2 billon share company, got knows where SP will go if settlement comes through.
18 August 2016 Australian Securities Exchange Level 5, 20 Bridge Street SYDNEY NSW 2000 ASX ANNOUNCEMENT CAPITAL RAISING UPDATE The Directors of Stonewall Resources Ltd ('Stonewall' or 'Company') are pleased to announce that the Company has received firm commitments for the placement of 65,350,000 shares at $0.015 per share to raise a total of $1,040,000. The shares will be issued to sophisticated investorsunder the Company's 15% placement capacity in accordance with ASX Listing Rule 7.1. On receipt of the placement funds the Company will issue the placement shares and release the requisite Appendix 3B. The funds will be used for general corporate expenses and working capital and the company will continue to assess its cash position as it transitions towards production.
Yeah hope so, but with a trading halt it doesn't allow us to speculate last minute, I've been wanting to get some more at 1.3c but no one was selling for that before the halt, when it's trading again I reckon it'll be too late to add more, it'll probably shoot to +2c first minute of open. But with a good cash injection it will be a pretty good stock to hold long term.
Awarded about 10% of what they were originally asking and Shandong to pay all costs, nothing to complain about thats for sure. Now that the litigation is over, the company can now put it behind them and progress.
Even though they didn't receive full amount that they were trying to get, it was still a decent amount to add to the company. I'm surprised it didn't go higher yesterday, maybe because it is a relatively illiquid stock or people will react when the funds have actually landed in SWJ's account.
