Vast Exploration Inc. (CVE:VST), (PINK:VSTFF) stock closed the week this Friday with bated breath.
Two days after the company’s release about the private placement financing for up to $15 million, VST shares closed the trading session with no price change and a weak volume.
Last Wednesday, Vast Exploration Inc. announced the raising of funds that will be used for the development of the Qara Dagh Block, for a related work program and for general corporate purposes.
On the same day, as if no news VST pulled 1.75% back, maybe to express investors’ disagreement with the future shares dilution. On the following day, the company’s stock soared 21.43% as a consequent investors’ reaction to the above mentioned news.
The last for the week trading session was a day for reflection, characterized by slow trading activity. VST closed the session at $0.68 per share with no change from the previous day.
This confirmed the investor uncertainty towards the fair value of VST, whose price was still far away from its 52-week high at almost one dollar.[BANNER]
The company’s latest financials for the three and six months ended July 31, 2010 and 2009 are quite optimistic and may support the buyers of VST stock.
A few weeks before the above mentioned private placement, the company’s management stated in the report: “as at July 31, 2010, the company’s current working capital position is approximately $8.6 million, which will enable the company to meet its obligations for short term expenditures and operating costs.”
Maybe today’s trading session will show what the fair value of VST stock is and the positive news about the funds raised, even though still not filled with SEDAR, will keep the shares’ upward direction.
