ARU arafura rare earths ltd

Ann: Nolans Rare Earth Project Update , page-95

  1. 1,164 Posts.
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    "Other companies have recently raised capital at well over their current share price. Eg UCL recently raised funds at 30c per share whilst their share price was below 20c"

    PS - lol, its all smoke and mirrors.

    UCL had a market cap of $18m on 29 May when it tried to raise a paltry $2.3m in a rights issue. Only $327k funds were received and the underwriters got stung big time.

    UCL's market cap is now $13m!

    Hmmm, to complete the BFS I don't think ARU will be trying to raise the required $80m via a rights issue at 30c. And surely you must be aware that ARU issued 45m shares at 22c to the chinese to raise $10m only last month.
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