It’s make or break for Copper 360
Founder Shirley Hayes believes her company has reached a turning point, but liquidity remains a problem
Letting go is hard to do for entrepreneurs, as Shirley Hayes is finding out. Hayes, the founder of SHiP (Shirley Hayes IPK Pty), is the 53.2% owner of Copper 360, a mining start-up in the Northern Cape with a liquidity problem. Earlier this year, “speculators” exploited its lack of free float, chasing the share down to about 215c from 470c.
Hayes describes the moment she saw the trade reflected on her phone: “How is this happening?” she said, recalling the event in an interview with the FM. In the wake of the event, Copper 360 CEO Jan Nelson submitted an inquiry with the Financial Sector Conduct Authority. That aside, however, there are compelling reasons Copper 360 needs to improve its free float, which is 15%...
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