A decent cap raise in the circumstances.
Strong positive for me - $270k worth of commitment from directors. I presume that may be issued against fees foregone? It's still valuable if so.
Postive - given the simplicity of the exploration task it should drive a lot of work in Tanzania. Also, again given the simplicity of the exploration task, I would expect them to get a pretty clear idea of what they are working with fairly quickly.
Negatives. I don't want to be too picky but I really dislike cap raisings with attached options. Until exercised or expired options must be expensed by the market at full value which is necessarily a depressing factor in the trading price.
The other negative is of course further dilution - approx 219 million shares or very roughly 20%. The reality is that circumstances demand it so it's a comment not a complaint on my behalf.
The upside for both these negative points is that the combined Jacana/STA story could be very powerful IF they demonstrate a quality resource base. This story, if successful in exploration, will see the whole worth more than the sum of the parts due to appeal to a major.
- Forums
- ASX - By Stock
- STA
- Ann: Strandline Raises $1.6M to Progress Tanzanian Portfolio
Ann: Strandline Raises $1.6M to Progress Tanzanian Portfolio, page-2
-
- There are more pages in this discussion • 4 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add STA (ASX) to my watchlist
(20min delay)
|
|||||
Last
9.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $138.9M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Featured News
STA (ASX) Chart |
Day chart unavailable