Thanks for the reminder...my head was getting ahead of itself and thinking we might be starting a FOMO run. Any data insight to back this pump Idea? Looking at the Quarterlies (and based on the following quarters outflow) the current quarterly has us funded for another 2 quarters while the last cash raising had us with 1 quarters funding remaining (plus we raised the top up to fund Stage 1). While the increase in the absence of any news does hold the characteristics of a broker pump, if I remember correctly, there was a lot of sell side support just above where they were targeting. There doesn't seem to be that this time. Similarly, why would the owners dilute their stock pre-financing announcement (given this will almost certainly raise the SP) unless of course the equity components already been found and terms considered at a specific level. Anyways I was optimistic during the last sudden increase for no reason, so I'll remember to tag back the optimism this time waiting for some good news!
On the assumption it is the dilution (and maintaining my optimistic hat), if the $US100m is what needs to be raised, then that'd add another 1.2bn shares to the register (making the overall 1.8bn assuming the same 16.5% discount to the current price as last time). At a $500m NPV that'd value the 1.8b shares at 28c a pop. While i've modelled a lot of better scenarios with less dilution, it'd certainly be a positive outcome if we did secured all funding.
ATC Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
