Am I seeing what I think I am seeing?
A placement-only at 3.2c raising $8m.
No retail CR dimension? At all? Small holders are being diluted, at a discount.
Hey, there's a million or two in drill money at 3.2c available from retail holders. A subscription offer to all holders at 3.2c capped at $30k would be inexpensive.
NWC has a lot of drilling ahead and could use the money - on exploration drilling, not at resource definition yet.
When the implications of this poor judgement filter through to valuation, NWC will trade lower.
Ash
Ann: $8 Million Placement to further expand the Antler Project, page-8
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Last
2.1¢ |
Change
0.001(5.00%) |
Mkt cap ! $59.64M | |||
| Open | High | Low | Value | Volume |
| 2.0¢ | 2.1¢ | 2.0¢ | $17.29K | 856.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 1191337 | 1.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.1¢ | 908325 | 3 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| NWC (ASX) Chart |