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An update from Javelin Minerals Limited ( (AU:JAV) ) is now available.
Javelin Minerals Limited has completed an unmarketable parcel share sale facility that allowed small shareholders to dispose of low-value holdings without brokerage or handling costs, while enabling the company to streamline its share register. The facility saw 2,803,439 ordinary shares, held by 1,276 small investors representing 42% of the company’s pre-facility shareholder count, sold via a special market crossing to a strategic investor at A$0.10 per share, a premium to recent VWAP benchmarks, which is expected to reduce Javelin’s ongoing operating and administrative costs and modestly consolidate ownership in the hands of a new strategic holder.
The most recent analyst rating on (AU:JAV) stock is a Hold with a A$0.12 price target. To see the full list of analyst forecasts on Javelin Minerals Limited stock, see the AU:JAV Stock Forecast page.
More about Javelin Minerals Limited
Javelin Minerals Limited is an ASX-listed company operating in the minerals and resources sector, with its shares traded under the ticker JAV on the Australian Securities Exchange. The company has a broad retail shareholder base, including a large number of small “unmarketable parcel” holders whose positions can be uneconomic to trade under normal brokerage conditions.
Average Trading Volume: 482,420
Technical Sentiment Signal: Sell
Current Market Cap: A$26M
For an in-depth examination of JAV stock, go to TipRanks’ Overview page.