IMO this is great news for Strike. My understanding is that most convertible bonds for exploration companies are set at a fairly small premium to the existing price (and certainly not 250%) which means that if it goes through Gallagher obviously believe that the "true" value of the company is north of $2.00.
Additionally SRK already have a significant pool of cash so will not need to draw down on this facility for some time to come - so no interest to be paid on the loan in the near future. This just provides any potential investors reassurance that the company has significant backing and a nice line of credit if needed.
Don't hold at the moment but as soon as the price finds support I am going to be in for sure - assuming no bad news about the D&C issue.
ann, page-9
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Last
3.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $9.931M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6700 | 3.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.6¢ | 59098 | 1 |
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| Last trade - 16.12pm 29/07/2024 (20 minute delay) ? |
| SRK (ASX) Chart |
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