IMO its not the sale of shares facility agreement that is causing the share price weakness.
I'd put at least four factors well ahead:
- No robust news as to progress against nameplate on the ore business and therefore when (hopefully not if !!!) higher throughput will be achieved
- General weakness in battery stocks, particularly lithium over the last month
- Limited news on the rest of the financing package for HPMSM and no further off-take news
- The overall share market is not in a bullish state and raising money is more difficult than when the bull is roaring
The deal that you note is part of the financing package for HPMSM so its a step forward (not backward) towards this.
Ann: Element 25 Secures $30 Million Funding Facility, page-32
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Last
26.5¢ |
Change
0.015(6.00%) |
Mkt cap ! $58.27M | |||
| Open | High | Low | Value | Volume |
| 24.5¢ | 26.5¢ | 24.5¢ | $9.772K | 37.46K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5500 | 25.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 27.0¢ | 100000 | 1 |
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| Last trade - 16.10pm 18/11/2024 (20 minute delay) ? |
| E25 (ASX) Chart |