At June 30 they had $150m cash, according to diggers preso.
According to cap raise announcement, after raise if $100m, will have programs cash of $200m.
Think that means they have burned $50m cash in two months. Notionally only had 4 months worth of cash.
the longer they waited to raise. The lower the share price. The more dilution.
I sold mine at 90c. I bought at 120c. So took my licks. Looks like a serious dog to me.
Good luck to you.
Ann: A$100m Underwritten Institutional Placement and A$20m SPP, page-65
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Last
9.3¢ |
Change
-0.005(5.10%) |
Mkt cap ! $198.7M | |||
| Open | High | Low | Value | Volume |
| 9.9¢ | 10.0¢ | 9.3¢ | $3.295M | 34.70M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 365887 | 9.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 9.4¢ | 883409 | 8 |
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| CXO (ASX) Chart |