It's a fair enough question and I really don't have an answer unfortunately...
My only guess is that in the event of a Senegal discovery they will attempt to capitalise on any spike in the SP...
That being said, it could also be used to fund some sort of acquisition or investment in lieu of cash given the following paragraph in the explanatory details:
If the Company were to acquire an asset or investment in
exchange for Shares, it is likely that the allottee under the
10% Placement Facility would be the vendor of the asset or
investment.
Will just have to wait and see...
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Last
38.0¢ |
Change
0.030(8.57%) |
Mkt cap ! $35.11M | |||
| Open | High | Low | Value | Volume |
| 36.0¢ | 38.5¢ | 36.0¢ | $48.27K | 131.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 71186 | 36.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 38.5¢ | 16000 | 1 |
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| Last trade - 15.42pm 14/07/2025 (20 minute delay) ? |
| FAR (ASX) Chart |