RM has been a whizz at raising money until the last round. You go to Magna when you can not get money from a normal capital raise via placement or rights issue. When you do a deal with Magna the share price will only go in one direction and that is down. Magna still make money out of it because their debt get converted into shares at a big discount, so Magna always make money. Given that RM has been so good at raising money, the fact he had to go to Magna tells us something fundamental. All the usual sources of capital have dried up. Plus most of the Magna funding just goes to paying RM's ridiculous salary and overheads. No project work is being done as is evidenced by not releasing the Mineral Resource for San Jorge.
- Forums
- ASX - By Stock
- AVQ
- Ann: Appendix 3B
Ann: Appendix 3B, page-28
-
- There are more pages in this discussion • 54 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 AVQ (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO & Managing Director
Charles Armstrong
CEO & Managing Director
SPONSORED BY The Market Online