Two factors which could push DNEX higher

Well, tis the season for speculation. I do not really advise on speculation.

However, when I read some of the exercise regarding DNEX, there are some obvious reasons which somehow things may happen given the volatility.

Purchase price and manner the payment is made to the 60% of owners of Ping Petroleum. DNEX is buying Ping and one portion is paid by cash, another via shares.

The payment in shares as above is based on the share price 5-day VWAP of DNEX shares 2 business days before completion date. The exercise is yet to be completed, and the higher the share price, the lower the payment of shares is to be made to the sellers. In fact, if it exceeds certain share price, DNEX need not pay in RPS. Seems like at the moment given the share price, it need not issue RPS to the sellers.

Reason no 2.

DNEX still needs cash although they have raised some substantial private placement funds (don't know to who) at very cheap price of 30 sen and below.

DNEX WD's exercise price is at 50 sen and for warrant holders to exercise, it needs to be substantially above 50 sen. I would not exercise if the price is trading at 52 sen, if you know what I mean. Why take the risk.

BTW, the maturity date for the DNEX WD is 30 Jul 2021. Few months to go.

Well, I still use the word "could" as anything can happen. Shares can crash. DNEX may find other ways to raise more cash. Ping Petroleum's exercise may not go through. Silterra's deal may not happen. For example.