I agree with you and would also add;
Options 1 & 2 - you could also do a rights issue or make a share placement to the market.
Both of these options take longer and are much more costly.
If PCL BOD are smart enough, they can do a placement to Soph Inv without underwriting fees and other costs - which can be reasonably substantial.
The underwriter does very little if it is a good project, as I believe this is.
Soph Inv is probably better for PCL as easier and cheaper than a rights issue, but a rights issue rewards the current shareholders for holding on.
With resource estimates, drill targets and a timeline to commence drilling for 1st and 2nd wells I think raising 20M will be fairly straightforward and easy.
The main thing is what will the PCL BOD decide to do with very limited corporate experience.
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Last
1.3¢ |
Change
0.001(4.17%) |
Mkt cap ! $102.1M |
Open | High | Low | Value | Volume |
1.3¢ | 1.3¢ | 1.2¢ | $23.97K | 1.863M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 5025251 | 1.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.3¢ | 8367573 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 4855251 | 0.012 |
30 | 12923724 | 0.011 |
23 | 9634529 | 0.010 |
16 | 4199265 | 0.009 |
13 | 2142862 | 0.008 |
Price($) | Vol. | No. |
---|---|---|
0.013 | 8367573 | 12 |
0.014 | 3716600 | 7 |
0.015 | 1381818 | 4 |
0.016 | 1020212 | 2 |
0.017 | 768278 | 3 |
Last trade - 14.03pm 08/08/2025 (20 minute delay) ? |
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PCL (ASX) Chart |