Whilst my first thought is that there's now 290m available for a short term arbitrage play, there's also the likelihood that these "institutional, sophisticated and professional investors" have only started accumulating stock and have been given a good head start (via this placement).
Given the expectation of a funding & offtake deal(s) within the next month and a bit, we could see a lot more momentum in the share price yet.
I wouldn't be quick to flick my holdings just yet. Worst case, this cap raising has bought us more time to simply wait out a company-making deal involving Sconi.
Ann: Institutional Placement Raises $5.2 Million, page-14
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Last
0.8¢ |
Change
0.000(0.00%) |
Mkt cap ! $11.18M | |||
| Open | High | Low | Value | Volume |
| 0.7¢ | 0.8¢ | 0.7¢ | $1.563K | 222.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 9836849 | 0.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.8¢ | 2799869 | 20 |
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| AUZ (ASX) Chart |