It is prudent management to raise at this time. Obviously I wish they raised prior to RS1 (circa 60c), but at 63% POS it must have come as a shock to drill a duster.
In order to secure funding, the investors need to see upside in their investment. Preferably short term upside. The upcoming D3 drill is a potential short term price catalyst. If D3 doesn’t come in as expected, we will have ~$150+ of cash to put a floor under the SP and push ahead with Dorado, Buffalo, or both. Cash is king and we are now flush with it.
Ann: Successful $79 million institutional placement, page-4
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Last
16.5¢ |
Change
-0.005(2.94%) |
Mkt cap ! $295.1M | |||
| Open | High | Low | Value | Volume |
| 16.5¢ | 16.5¢ | 16.5¢ | $50.66K | 307.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 21 | 627402 | 16.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.5¢ | 550718 | 18 |
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| Last trade - 11.34am 02/08/2024 (20 minute delay) ? |
| CVN (ASX) Chart |