"they'd get it" is my opinion only.
I'm just saying that if the market is happy to trade this thing at 9c then 15c is a bonanza price. Directors could recommend a bid if they thought it was in the best interests of shareholders.
They might say something like "it will take another $15m to find the answer to this, with no certainty of success, so selling to WSA with maybe a scrip alternative (15:1?) allows SGQ shareholders to retain exposure to Mt Alexander plus a big premium to the current price. The alternative is to hang on in for massive dilution as we continually raise capital".
It's possible.
Ann: Mt Alexander - Exploration and Development Update, page-118
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Last
2.7¢ |
Change
0.002(8.00%) |
Mkt cap ! $29.39M | |||
| Open | High | Low | Value | Volume |
| 2.4¢ | 2.7¢ | 2.4¢ | $296.2K | 11.52M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1360311 | 2.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.7¢ | 1082090 | 3 |
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| Last trade - 16.10pm 16/10/2024 (20 minute delay) ? |
| SGQ (ASX) Chart |