Just over $7mio of new capital. My guess is that this is to support a dedicated funding line. The announcement does not say anything about it so again, patience... And "The placement is also subject to successful completion of the Foundation Stage of the DSD initiative, Capricorn due diligence and Capricorn Board approval". So hopefully the SP volatility does not disrupt the intent of Capricorn. Volatility that is really not so surprising. Investors int he last CR have made good $$ and many of them are likely more interested in doubling their money quickly than sticking with the company for the long term. If SPX wants to see progress in SP before the December 4C is released, which may include some of the revenue streams just announced and the R&D grant payment, I think it would be a good idea to publish trading update to inform SH and potential new investors of progress.
SPX Price at posting:
1.1¢ Sentiment: Hold Disclosure: Held
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