To me AZY did the right move. lets look at their options:
- Option 1: Secure funding now at current SP - AZY can choose option 1 that has no risk at secure funding.
- Option 2: Wait for drill results with good results and SP increase - AZY will have to gamble that the results will be good, hope the SP stays high and does not drop back down before completing their CR.
- Option 3: Wait for drill results with bad results and SP Drops - AZY will be in a really bad position and absolutely worst case scenario with more dilution.
If you were in their shoes, would you take the risk? and if you waited for the drill results and it was bad, face shareholders wrath?
To me AZY did the right move. lets look at their options:-...
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1.0¢ |
Change
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Mkt cap ! $41.39M | |||
| Open | High | Low | Value | Volume |
| 1.0¢ | 1.1¢ | 1.0¢ | $361.2K | 36.09M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2003622 | 1.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.1¢ | 11331690 | 9 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| AZY (ASX) Chart |