What a difference a day makes!
Miningnut flagged these events some time past.
With trepidation.
Reasonably so.
Now we face the eventuality.
We really shouldn't be surprised.
Bill T moved to Canada because he reasoned that raising funds there was a reasonable proposition.
Institutional evaluation of Anvil has always been conservative - as if they knew.
The $7.67621 (Australian dollar) issue price is not far below present trading price.
The underwriting of the issue indicates that market price is expected to be comfortably above the figure some time post issue.
Anvil has passed from a penny weight spec --- to a small growth stock -- and now to a mid sized company (after issue and after obviously planned developments).
One thinks that the "blue sky" element in Anvil has been taken away.
Probably!
However this aspect will be replaced as Anvil becomes recognised as a mid sized "blue chip".
Institutions will be able to obtain a realistic holding in Anvil which will bring a new dimension to the trading of Anvil shares.
The Questions that are of interest now---
1. Where will the relatively huge funding now being raised be spent? Bill T's track record suggests it will be well spent and planning is already in place or on the way.
2. How soon will the funds be utilised?
3. How long will it take before the expenditure affects Anvil's bottom line? That is profits.
4. When will profits be allocated to paying shareholders a dividend.
My forecast re Anvil share price - close to or near $1.00 mid to late April is now "on hold".
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