You would need USD $100M (at least) for the next 18 to 24 months of work. Note: International drillings are priced in USD.
The Mkt Cap of the company, currently is circa AUD $100M.
20M shares at 7 cents will Only get you $14M AUD, which is about USD $9.38M.
That is a long way short.
If you are looking at raising the full 18 to 24 months, you are looking at 100% dilution (at least), which will require approval from shareholders.
The best the company can do (currently) is raise 15% and then an extra 10% (provided its allowed in the company Constitution) without shareholders' approval.
That is 25% all up, which is circa AUD $25M or USD $16.7M, plus existing cash - that is Only enough for one drill (at best).
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7.8¢ |
Change
0.002(2.63%) |
Mkt cap ! $110.5M |
Open | High | Low | Value | Volume |
7.8¢ | 7.8¢ | 7.8¢ | $10.75K | 137.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 16461 | 7.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
7.6¢ | 260110 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 16461 | 0.078 |
4 | 76134 | 0.076 |
2 | 107000 | 0.074 |
3 | 262000 | 0.073 |
2 | 100529 | 0.072 |
Price($) | Vol. | No. |
---|---|---|
0.076 | 260110 | 2 |
0.077 | 895238 | 3 |
0.078 | 165709 | 2 |
0.080 | 152500 | 4 |
0.081 | 343873 | 1 |
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