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hodgie

100 Posts.

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21/10/21

14:37

Post #: 56971915
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Originally posted by Quanta: ↑

They extended the rights issue with a cap raising up to $3m. Tomorrow they should be announcing both the rights issue and top up capital raising.

At the end of these raising the company will be fully recapitalised with ~$7.5m in bank and no debt and good to move forward on both projects Uranium and Nickel/Cobalt. That's a winning strategy from a commodities perspective.

Watch out for the Cobalt spot price as Wilconi alone could be a company maker due to the scale of the project and the good Cobalt grade. Cobalt spot has nearly doubled over the last few months and U spot is teethering on $48.85 near recent highs.

The market hasnt sniffed Cobalt as part of battery composition yet, but it will similar to Lithium 1.0.

IMO DYOR

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Quanta do you mean that they will do a private capital raise of $3m or that shareholders applied for $3m above their rights allocation so they will create some extra shares so everyone gets what they applied for?

ACB Price at posting: 12.5¢ Sentiment: Buy Disclosure: Held
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