Resolution was to provide the company the opportunity to raise more capital to the tune of 10% of mkt cap if required, in order for the resolution to pass the board needed 75% approval. I believe the board would have received majority however would not have achieved 75%.
On that note, let's remember that this is an early stage exploration company that has an ongoing need to find sources of capital, and without the capacity to bring their resource to market (and therefore secure lending) the only way to fund their operations are by JV's/farm-in's or equity raisings.
IMO, shareholders should not have allowed their disappointment to affect their decision on this resolution given the next potential raise is likely to be conducted at a much higher level which will likely only serve to benefit them and their holding long term.
And before you mention it, yes I too hope that a JV/farm-in is the next course of action meaning any further dilution will be unnecessary.
And to join the conversation about where we're heading (sorry for my nibbling of sbatts bait), either evidence of our gas getting to market or a successful lateral drill program is what we need. The core holes won't do it. Feb/March seems likely, though I sincerely hope its soon.
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Last
0.4¢ |
Change
0.001(14.3%) |
Mkt cap ! $5.790M |
Open | High | Low | Value | Volume |
0.4¢ | 0.4¢ | 0.4¢ | $754 | 188.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 12765502 | 0.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.4¢ | 14531096 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
10 | 12765502 | 0.003 |
12 | 31475499 | 0.002 |
6 | 59703690 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.004 | 14531096 | 12 |
0.005 | 5954721 | 6 |
0.007 | 100002 | 1 |
0.009 | 80000 | 1 |
0.010 | 1000000 | 1 |
Last trade - 12.37pm 30/08/2024 (20 minute delay) ? |
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