I doubt it .....LOL......
Interesting the reference in the announcement to Corporate Update . Wonder if it's to do with the Sale of the US Lithium Assets ......Might get something to contribute from that.....
Or maybe it's more to do with the fact that it looks as though they may have previously exceeded the ASX's 30% raising threshold back in Feb / March with no waiver granted and the ' Missing ' 3 B notice which was suppose to have ' been issued and followed ' shortly after that Capital Raising........
Irrespective , and by the look of it , they are going to have to raise some cash and / or issue some shares as per their Contingent Liability noted in their Half Year accounts at 31 December 2019 as follows :-
11. Contingent liabilities and contingent assets
Upon acquiring 100% interest in Mount Roe Mining Pty Ltd, the Company is liable on a discovery ateither E47/3846 and/or E45/5041 and/or E47/3857: totalling 200,000 ounces JORC resource of gold (orgold equivalent on any metals) to issue of A$1.0m in Caeneus Shares at a five-day VWAP prior tonotification of this milestone/payment or A$1.0m in cash (at the election of Caeneus).
On top of this and as previously mentioned , the outstanding rents on these TWO tenements alone amounted to $16,482. There's also this part of the original terms of the deal whic at least in part confirms the disclosure of the ' Contingent Liability ' :-
Under the deal, Caenus will pay A$45,000 in cash, issue 515 million shares to Mt Roe shareholders and issue 515 million unlisted options upon executing the share purchase agreement. There is also a deferred consideration of A$1 million if a JORC resource of 200,000 ounces or more of gold is defined on any of the licenses.
Irrespective of all this and considering the ' ENORMOUS ' amount of shares on issue and that were issued at .0005 cents , I'm pretty convinced that it is
FAIRLY valued , and reasonably
' Well Held ' at a market capitalization of $14 million . No ...I'm happy I got out at .007's and deployed elsewhere.....
Namely because if you look back to the 2017 when De Grey Mining paid $15 million for Indee Gold's ' Hemi ' Pilbara tenements - at least they knew they had something because Indee had ' proven up ' a sizable amount of resource with quite an extensive drilling campaign .
So at current Market Cap of $14 million what makes you think CAD is even in that sort of Calibre.........
(20min delay)