You could do a lot worse than have Eddie Rigg backing Keysbrook. Some of the real heavy hitters of Perth's investment world are with Argonaut.
There are four interesting points about this announcement:
- Argonaut will throw in a minimum of $500k. Does that mean everyone will be scaled back so they get their $500k worth of shares?
- The MZI board thinking that shareholders won't take up their rights. It's not a huge amount of cash for a large register and I would have thought it would be fairly easy to get.
- Stirling and Tricoastal are not backing this in any meaningful way. If they were they would have underwritten it.
- I can't think of a case prior where Argonaut was involved with a WA sandminer, so there is some tie-up somewhere, it could quite possibly be with RCF. Watch for the 3B though to see what unlisted options Argonaut receive as a fee.
On another note:
I was just reading that announcement about RCF, MZI can't fart without RCF being told in writing and them giving consent. Just watch these boys, they are only in it for themselves.
Pep
You could do a lot worse than have Eddie Rigg backing Keysbrook....
Add to My Watchlist
What is My Watchlist?