A placement for the Equity component and the additional project interest definitely need to happen in the next 3 months if FID timeframe is to be maintained.
Question is, will it be a modest placement first to pay for the additional ownership and get the SP up.....then do a larger placement at a higher SP for the equity.....or will it be one big placement?
A few points to note:
1. Nige in a March interview stated that any raise would be at a higher price than the SP was at the time, which was 22c-23c
2. Nige at recent shareholder Preso's stated that a placement would not necessarily have a discount....as lots of funds around looking to take some action
3. Also at the recent Preso, Nige stated that the equity participants they are in discussion with and have access to the data room, have all signed NDA's that also prohibit them from trading in the stock. Whilst they might be prevented, it might still be likely they have other agents acting on their behalf to manipulate the SP to maintain the VWAP at the level they want until the placement happens.
4. Nige is aware of the SP manipulation....it remains to be played out whether he and the 2 new finance guns can outplay the manipulators for the placement???
All imo. Just my musings
AVZ Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
