Dilution not too bad, my calcs:
1 Billion of current equity at say 4c = $40M MktCap
New Rights 600 Million new equity 2.7c = $16.67M New
$56.67M MktCap divide by Total Equity 1.6B = 3.5c share price
Market appears to be happy with the deal. Long term value proposition is reinstated. Sufficient cash to drill and hopefully self fund all future wells and therefore realise full potential. 100% ownership maintained, albeit with some dilution. All good for long term holders IMO.
History of the cornerstone investors sounds promising. Happy to hold and see what unfolds.
KK
raises $16.67mil at $0.027, page-22
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Last
2.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $36.96M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5150 | 2.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.1¢ | 161037 | 1 |
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