The annoc today is 2/3s of the way to the $45m they require to build the plant and get the project up and running.
With Mac Bank involved the other $15m should not be a problem. Or is it?
The recent SPP was well and truly oversubcribed.
With that in mind the board ( Bligh ) should have little trouble in raising the rest.
What they are attempting in my opinion is to gain a premium that is acceptable to everyone.
Just look at BAU they placed shares at 50c when the SP was in the 30's. They also are yet to mine.
IDM's SP is now the hassle, at under 10c it's hard to place at say 20c.
The other problem is these sophisticated investors like to get shares at under the current SP so that they can make a quick buck.
IDM ie Bligh have their work cut out here and dilution is the boggy man.
- Forums
- ASX - By Stock
- IDM
- cap raising?
cap raising?
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
KAI
Pilbara Minerals buys land off Kairos part of its York gold project for $20M – and a 2% royalty on any PLS gold sales
STX
Strike hands $48.5M contract to Clarke Energy to produce 20x 4.5MW gas engines for Sth Erregulla
TG1
TechGen Metals kicks off airborne geophys survey at Sally Downs copper play – a first for the permit