DKO 0.00% 5.6¢ dakota minerals limited

application form missing !, page-22

  1. 959 Posts.
    "Oroya Mining Limited (ASX:ORO) has awarded a Mandate to Melbourne Capital Limited (Lead Manager) for a placement raising of $600,000 to fund drilling at Oroya’s flagship Orbost Copper project. Melbourne Capital have received firm commitments for the total balance of the placement."

    I don't see why the above is so hard to understand and why one would think that they are entitled to the placement when it clearly says that the mandate was given to Melbourne Capital and that Melbourne Capital have already placed the options with investors before the above announcement even came out, which was 6 weeks ago.

    The cost to the Melbourne Capital clients was .1c for the option and .3c exercise price, meaning .4c per share total cost. ORO's share price at the time was .3c so these investors obviously thought that, even at a 33% premium to the share price at the time, this was a bargain.

    Anyway, please end this thread here as reading it was painful and I wouldn't subject anyone else to it.

    Thanks and good luck all.
 
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