Wow, so 4 x oversubscribed, and that's only for the SPP of $20m. Could have raised $80m from existing shareholders without too much trouble (but a lot of hassle admin wise), on top of the $100m we have raised from the initial CR.
I think it's very clever from management to raise the bare minimum required to drill out the 3 main priority areas this year and throughout next, to get us to an MRE early next year, which will be regularly updated as results come in.
If corporate interest was of the same level as that of existing shareholders, you can guess we could have raised around $1/2bn if management had wanted to.
Incredible really, and shows what the level of support for AZS from those who really "get" what we are sitting on. Looking at the geology, I am convinced we are sitting on a Top 5 global deposit at Andover.
What are those worth these days?
AZS Price at posting:
$2.70 Sentiment: Buy Disclosure: Held
