What did you think of the placement? Here is what I thought of the placement
1) The stock had been trading at 1.2-1.8 for a few months, only in the last few weeks did they get the massive volumes and share price spike.
For ATN to issue 75 million shares at 2cents, is an achievement & a reflection on their investment in Obi
2) Moreover when a strategic investor like Macquarie invests, my opinion is that they are fairly confident of prospects and will aim to make a 5-10 bagger investment for them.
5 bagger - would mean ATN at 10cents 10 bagger - would mean ATN at 20 cents
3) The sophisticated investors, don't sound like the type who would bail quickly (I maybe wrong, time will tell)
4) Surely this payment is enough to meet the current payments required, but I am well aware that they need more cash in the next few months/years to fulfill the Obi Gold project Deal.
Hopefully with more news and results, I think we may have a huge winner on our hands
Thoughts welcome
Cheers Mayo
ATN Price at posting:
2.1¢ Sentiment: LT Buy Disclosure: Held
