They can't call a EGM until all documents are lodged with ASX (Draft NOM)
ASX requires 15 business days to go over Draft NOM.
You can't hold a EGM & AGM together or back to back.
So until ASX have approved the Draft NOM, nothing will happen.
They are talking with ASX if we could trade for a period of 4 weeks leading upto the EGM.
The dilution is very minimal and will have very little effect on the share price.
231 million shares are needed to meet ASX 20% freefloat, only 10% of the current share registry.
A CR will be done for the 231 million shares, I believe it will be a Share Purchase Plan so everyone will get a chance to take part.
Taurus will not do any cheap CR, like most CR done the share price is pumped to do the raise at a higher price.
Over the past few months few new guys have joined the board. Should ask yourself why the company are bringing in more people, something big going on in the background another working mine.
Regarding the last quarterly we had to payout almost $20 million to employees and train new contractors, once off payment.
All Imo and DYOR
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RRP Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
