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20.5¢ wiluna mining corporation limited.

Ann: Entitlement Offer Update, page-4

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Dabble010

4,277 Posts.

1473

12/04/19

00:37

Post #: 38106676
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Originally posted by GravityWaves: ↑

Hi @Dabble010, looking at the entitlement update announced today....fully subscribed for 1,720,916,438 (One billion, seven hundred & twenty million, nine-hundred & sixteen thousand, four hundred & thirty eight....shares).

Sub-underwriters are collectively the proud owners of a 1,321,013,405 share behemoth.

1.721 billion (new shares) + approx 1.285 billion (existing shares) = approx. 3 billion shares (...a very big number).

It might take some decent production news to move the SP to $0.027 (MC = $80m)...or a fortuitous & nicely co-ordinated pump...or maybe both at the same time aiming for $0.03 to convert options (there's lots of those & the additional cash would be helpful).

The upside is: BLK will probably have the funds to pay MACA & Lind ($7.5m & $2.5m) & avoid sinking even deeper into default territory...& that's definitely something shareholders can cheer about IMO...

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So what did p31, section 3.2(a) of the prospectus mention.

I must admit I didn't read it, my attention was elsewhere making 1/2 bag extra on another stock!

BLK Price at posting: 1.5¢ Sentiment: None Disclosure: Held
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