At the end of the day the company bank account was getting low. IXR have done a good job of raising capital at precisely the right moment. VWAP was up helping the cash raise to be higher than if this was later on in a week or two. Sure nobody is ultimately happy with further dilution but it was absolutely necessary to get towards the BFS and now funded sufficiently to continue into BFS.
Would anyone prefer Tim to run this like that idiot Ferguson over at AVZ who sends the bank balance under $1m with the cash burn likely to turn that to zero with drilling activity. AVZ trading at 6.5c on the 24/01/2019 gets slammed down into 3.7c less than 2 weeks later.
Is that the sort of activity anyone wants to see here? Seriously???
Ann: Ionic Rare Earths Completes $12 Million Placement, page-34
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Last
0.6¢ |
Change
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Mkt cap ! $29.21M | |||
| Open | High | Low | Value | Volume |
| 0.6¢ | 0.7¢ | 0.6¢ | $55.45K | 9.199M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 25 | 8589531 | 0.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.7¢ | 9870045 | 25 |
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| IXR (ASX) Chart |