7.2 Technical information required by ASX Listing Rule 7.3 Pursuant to and in accordance with ASX Listing Rule 7.3, the following information is provided in relation to the Placement Facility:
(a) the maximum number of securities to be issued is 250,000,000 Shares; (b) the issue price will be not less than 80% of the average market price for Shares calculated over the 5 days on which sales in the Shares are recorded before the day on which the issue is made or, if there is a prospectus, over the last 5 days on which sales in the securities were recorded before the date the prospectus is signed; (c) the Shares will be allotted and issued no later than three (3) months after the date of the Annual General Meeting (or such later date to the extent permitted by any ASX waiver or modification of the Listing Rules); (d) as at the date of this Notice of Meeting there has been no decision by the Directors to issue any Shares. Accordingly, the names of any allottees or proposed allottees are not known and it is not known whether any allotments will occur as a single allotment or will occur progressively; (e) the allottees will be identified at the Directors discretion but the Shares will not be issued to related parties of the Company; (f) the Shares will be fully paid ordinary shares in the capital of the Company and will rank equally with the Company’s current issued Shares. The Company will apply to ASX for quotation of the Shares; and (g) the funds raised will be used for working capital purposes with the majority of expenditure on drilling, permitting and development at the 15 Lance Projects in Wyoming, USA, as well as the exploration program at the Karoo Projects in South Africa.
In essence, quite apart from a "particular" company which has been tasked (and no doubt handsomely paid) with the difficult task of selling uranium to a nation crying out for it (by a deficit factor of 14 to 1), nothing has changed.
Except we get to keep our dignity and they get the P155 - by swan-diving into bed with an inferior opposition.
PEN Price at posting:
4.6¢ Sentiment: LT Buy Disclosure: Held
