Siameseparrot, my take on this is the very small issue here.
On $3m was taken to get the bond paid - given that any premium paid for the stock in a placement would be because buyers want a big chunk of shares was not on offer here.
Maybe IFE would have got $1.00 if some company got the chance to buy $10m.
The part I like about this is, very minimal dilution with confirmation of mining this quarter.
Options will hopefully take care of the rest of Stage 1 and then debt in a couple of months time for Stage 2.
Although debt would have been nice for Stage 1 - 6 mths ago - banks must have wanted to see first cash flows.
Cash to come to IFE in the next couple of months.
Cheers, W
TYX Price at posting:
88.0¢ Sentiment: ST Buy Disclosure: Held
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