MBN 0.00% 8.3¢ mirabela nickel limited

pre vs post sp plan

  1. 165 Posts.
    Hi

    Just thinking out loud here. Interested to hear others thoughts....

    From the recent announcement re the SP Plan:

    "Accordingly, the aggregate gross proceeds of the combined Australian Placement, Canadian Placement and Director Placements will be A$55.2 million (US$50.3 million) through the issue of 24 million shares at A$2.30 (or equivalent)."

    So at the moment MBN is made up of 338,300,000 shares according to their recent roadshow (plus some options and notes)
    338,300,000shares x current SP $2.67 = MC of $903,261,000

    A Market Cap of $903,261,000 plus the newly raised money ($55,200,000) = MC of $958,461,000. If you divide that by the new number of shares post SP Plan (362,300,000shares) = $2.65

    So I wonder if this premium (that is $2.65 vs $2.30) will remain closer to the date of the placement, i hope it does because it seems like easy money, unless i've missed something? And i very well could have! We do have opportunity to ascribe to $10,000 worth at $2.30 dont we?

    Cheers
    Skegs
 
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