We were supposed to be backed by NFC with a $50 million facility under which we gave them shares at a premium to the current price with the condition they could not own more than 19.9% of the company.
Sounded like a great idea at the time to have $50 million readily available but with the share price having crashed and NFC already owning 15.5 million shares at the time they have already reached this share holding limit having received another 22.8 million shares for $10.8 million.
So Terramin have missed out on being available to receive another $38.8 million from NFC which they had probably counted on leaving a big hole in their budget.
new lows, page-9
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Last
3.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $63.49M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 19000 | 2.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.4¢ | 200000 | 1 |
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| Last trade - 16.12pm 05/07/2024 (20 minute delay) ? |
| TZN (ASX) Chart |
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