this may explain why Kev is so upset, where his main gripe is the CR at 1.00 (Block trade at 85c). And on face value, the company was having a momentum run with Renard to 1.49.
In an ideal world, a CR called then would be without CFTF in order to captivate the price at hand. A perfect world would be with CFTF but that takes an open door available at that precise moment.
The problem that would have occurred under a conventional CR rights, given the deflating price of lithium would be that we go into a halt, ann 1.40 rights, but then the tide goes out, and no-one takes up the rights, as the sp dips down to 1.30, 1.20, etc. The alternative would be a placement, at say 1.25 from a halt at 1.40.
We have seen where companies can chase the market price, it is disastrous. I once saw a company revise its CR terms 3 times as the market weakened below the CR level.
So given the deflating sector, whatever the company did, it was prudent to rip the band-aid off quickly.
At least, with the CFTF we did achieve a respectable 1.00 swap on equity for cash.
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this may explain why Kev is so upset, where his main gripe is...
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Last
56.5¢ |
Change
0.015(2.73%) |
Mkt cap ! $121.1M |
Open | High | Low | Value | Volume |
55.0¢ | 57.5¢ | 54.5¢ | $82.91K | 148.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 31534 | 56.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
57.0¢ | 19668 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 31534 | 0.560 |
3 | 18023 | 0.555 |
7 | 81042 | 0.550 |
3 | 86223 | 0.545 |
5 | 52993 | 0.540 |
Price($) | Vol. | No. |
---|---|---|
0.570 | 19668 | 4 |
0.575 | 20865 | 3 |
0.580 | 4476 | 1 |
0.585 | 24800 | 2 |
0.590 | 24800 | 2 |
Last trade - 11.40am 20/08/2024 (20 minute delay) ? |
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