@Sparra I think Chris & Co will be doing best to avoid further dilution to SHs at this ridiculously low SP.
Long term shareholder probably didn't need a lot of incentive to pick up a swag of shares at that level - he will probably do very well from them with time.
I suspect Chris & Co have gone for this friendly funding option to provide a further window of time in which positive news flow can happen (Eli Lithium process, Primobious MBenz Hub to be completed, perhaps even some movement on Barrambie or Finland Vanadium vehicle).
Assuming we start notching up some wins, and can see the pathway through to Stelco plant order & possibly others (off the back of confidence in MB's successfully built & operating plants) - SP likely to be much higher than currently & can do a modest rights issue at that point if needed (rather than a heavily dilutive raise now, when sentiment for all things battery metals in in the toilet).
Personally I think it's a terrific move - and the market reaction shows it's removed from play the near-term funding risk of a heavily dilutionary cap raise - which has been very heavily weighing on the stock in my opinion.
NMT Price at posting:
8.2¢ Sentiment: Hold Disclosure: Held
