"The senior secured loan facility has closed and drawdown has completed."
Our market cap prior to opening today is $49m and we have just drawn down a $40m loan from Glencore without the requisite $20m additional capital being raised yet, this is extremely generous of Glencore.
If the 6 cent options (exp 31/12/24) are exercised this would bring in $25.4m, considering over half of these options are held by the new management and associates I wonder if they are thinking of exercising early (exercise in October) and hence sending the market a very strong message of suppport ????? This would put a rocket under the SP and get all the options over the line and raise the necessary $20m IMO
CYM Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
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