RE:Investing in a bad marriageSome have commented on the Chair of ARV.
No doubt many ARV shareholders would like to see a more cooperative relationship with QH and Novo including myself. However it is what it is so I need to work with what's there.
A take-out may benefit many shareholders AND as importantly, the JV with Novo.
To put a scale on things, the Chair was issued equivalent 25m within about 6 months of appointment (Nov 2016) so currently if none sold, he has 8.8% of ARV as there are about 283m ARV shares outstanding (May 2017).
There has been an additional 20m shares through a capital raising in july.
A further 102m listed options (strike at A$0.2) will expire on 30Sep. Providing all the options are exercised, this number will add to the existing lot to bring up to a maximum of 405m. Please note the number is estimated as I do not have access to all data.
The above will no doubt keep a lid on the SP in the short term but hope not for too long..
The ARV shares currently at A$0.195, while Novo moved up overnight with the Gold price steady.
onetok