Hi Candid,
A few thoughts:
As I've previously posted, any cap raise was never going to be at a 30-40% discount. I gave examples of recent cap raisings in this sector and discounts which have turned out to be similar to this raise.
You say this raise is insufficient and that the price to raise the real amount needed would have scared off many investors. If they'd announced a CR of $20m at 2c it would have caused panic you say.
Candid, a little maths shows this is in fact a $22 million cap raise. About $12 million from the placement and the SPP and highly likely another $1m if Newcrest exercises its rights to additional shares to maintain its 9.9% stake, all at 2.7c.
In addition there are attached options issued at 4c which will probably bring in another $9million over the coming year. So $22m in total.
I'm not surprised you're still not a buyer. As I've said previously. Psychology. You've been burned before elsewhere and will second guess yourself that price will keep falling.
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Last
1.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $41.39M |
Open | High | Low | Value | Volume |
1.0¢ | 1.1¢ | 1.0¢ | $361.2K | 36.09M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 2003622 | 1.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.1¢ | 11331690 | 9 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 2003622 | 0.010 |
30 | 15505895 | 0.009 |
18 | 8676820 | 0.008 |
4 | 2250000 | 0.007 |
3 | 485000 | 0.006 |
Price($) | Vol. | No. |
---|---|---|
0.011 | 10314539 | 7 |
0.012 | 4475724 | 9 |
0.013 | 9813068 | 7 |
0.014 | 3761900 | 5 |
0.015 | 4193832 | 9 |
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