Ann: $150m underwritten placement to accelerate Sunrise Project, page-65

They need $800 million. They have already decided to build.
So it was going to be $800 mil to a billion in debt and equity, one way or another.
Looks like it’s going to be 1/3 equity, 2/3 debt, more or less.
CLQ just did the equity part. It didn’t hurt too much, did it ?

CLQ raised over $200 million and counting... cash…in 24 HOURS.

Halt…announcement…subscription…oversubscription…resumption of trading. Smooth as silk.

A day or two, trading again on Friday. Perfect beat.. Speed, focus, power. A quick shot hit the bullseye.

Would you rather have $1.23 undiluted pre-halt, or $1.30 diluted with your mine near the finish line on financing ? A share price increase one day after dilution? I say, Bravo, RF & Company.

You cannot do any better than this. People were standing in line to buy the stock at a 6% discount. Oversubscribed 44% 24 hours !? You’ve gotta be kiddin’ me ! And the SPP was just for holders in Australia and New Zealand.

Great things coming for this company.

**End of Part A**
The following is Sallywoofs panegyric to CLQ which you may be inclined to not read.

Individually the Anns look like your run-of-the-mill, “We need money and you have to suffer”-kind of announcements. But to me, taken al together with the outcome, they make a small masterpiece of corporate financial execution and managerial excellence.

This raise and its execution add to my already high esteem for Friedland’s strategic genius and the organization he has built. The raise is a normal event, but in some ways its excellence in planning and execution puts it up there with the Pengxin deal, or the perfect launch of the water website, or the Multotec African distribution agreement.

US institutions and funds can’t even go in yet, because CLQ is too small. There is still no US coverage. In my brokerage module, not one of the seven research firms has a report on it. Some do not even classify it in the right sector.

RE: complaints about the pecking order: We small folk need to stop bitchin’ and buy a good thing when we see it. We’ve had years to buy at low prices. CLQ’s lack of major world coverage is to our advantage, for now. We see it, few others do.

Wholesale is cheaper than retail. Big money and the privates buy wholesale. That’s the way it is.
We all could have bought more for a lot less not too long ago.