They need cash to accelerate / ramp up production. Even with the offtake prepayment the business was undercapitalised. Apurimac and PE aren’t bankable projects just yet IMO.
SRK may be able to debt fund some of the capex in future but the $ raised now is to secure contractors etc ie there is no asset backing so vanilla bank debt wasn’t an option IMO
Ann: $5m Placement for Iron Ore Production Growth, page-34
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Last
4.8¢ |
Change
0.002(4.35%) |
Mkt cap ! $13.62M | |||
| Open | High | Low | Value | Volume |
| 4.9¢ | 4.9¢ | 4.6¢ | $3.622K | 74.70K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 252500 | 4.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.8¢ | 62291 | 1 |
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| Last trade - 16.10pm 17/05/2024 (20 minute delay) ? |
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Last
4.9¢ |
Change
0.002 ( 4.26 %) |
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| Open | High | Low | Volume | ||
| 4.9¢ | 4.9¢ | 4.9¢ | 56799 | ||
| Last updated 11.41am 17/05/2024 ? | |||||
| SRK (ASX) Chart |