Although I'm a little skeptical of another CR so quick, I have to say it is good that they are doing it at much higher prices than us shareholders got in (or averaged down for me) at. If it's a big raise to a big boy then this would be great news. If they raised this at 16c then the dilution factor would've hamstrung smaller holders.
They have $3M in undrawn debt facility and needed $4M in cash or contributed assets in the Soco JV from memory, so maybe $10M cleans that up, removes need for debt obligations and leaves plenty of working capital to upscale or maybe design an electric car and make a play for NASDAQ listing lol (daring to dream).
Ann: Trading Halt, page-31
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Last
14.0¢ |
Change
-0.010(6.67%) |
Mkt cap ! $58.54M | |||
| Open | High | Low | Value | Volume |
| 14.5¢ | 14.5¢ | 14.0¢ | $5.766K | 40.29K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 19709 | 14.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 14.5¢ | 79659 | 2 |
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| Last trade - 13.51pm 12/07/2024 (20 minute delay) ? |
| VMT (ASX) Chart |