With cash levels as is..the price movements have to be related to the drawdown of the second 10 million dollar tranch with RCF.
The Company has the option to draw down on the second A$10 million tranche of the Resource Capital Funds convertible note facility on or before 16 June 2009. Bannerman is evaluating alternative sources of funding to supplement existing working capital given the currently substantially higher share price compared to the conversion price associated with the second tranche.
It has probably been mentioned by others on here..I just havn't been following as closely of late. Going to be interesting to see who the alternative source, what price they get and also how much cash Bannerman decide to raise.
up up & away today, page-11
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$2.83 |
Change
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Mkt cap ! $505.4M | |||
| Open | High | Low | Value | Volume |
| $2.81 | $2.85 | $2.78 | $2.258M | 804.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 400 | $2.79 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.83 | 1271 | 1 |
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