Great result - I had heard that the initial amount to be raised was oversubscribed by 5x and the total raised was scaled back 50% for those that were able to participate whilst others missed out.
Clearly took the opportunity to top up the bank account and given how frugal Roly has been with spend right throughout there would be good reason for this level of raise and will see us through now until offtakes and finance are complete and beyond whilst keeping the 80m facility untouched.
Also good to see the number 1 shareholder Regal participating. They've been on this ride longer than most of us and really haven't had a return on their large investment up until now yet they are still happy to buy more. A good sign they are still really bullish about our project or they would have sat out the raise.
Interesting to see a new cornerstone investor jump on board. Would love to know if he is just in an investor (with big pockets, look up his sale from last year) looking for a return or if there is something else to it. We specifically put his name in the announcement so wanting to bring attention to his participation - or maybe I am over analysing, again, and we are just trying to promote someone of his 'profile' seeing such a great opportunity..
It's funny how we can have so much interest in a raise from large investors and be oversubscribed many times over, yet there was little interested in buying shares in FYI on market in the 4's and 5's. You scratch your head sometimes..... but this has confirmed the interest is there.
Another box ticked.
FYI Price at posting:
7.0¢ Sentiment: Buy Disclosure: Held
