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Have you been through any TOs at this end of the market before?...

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Bludgemaster

1,753 Posts.

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06/04/23

11:46

Post #: 67168500
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Originally posted by Hiddenvalue: ↑

Could be a good reason why management are investing heavily in this raise.

Personally I can't see we have a MC to justify borrowing $100+ million to get to production.

With only $3M raised in this CR I can't see the SP improving near term as the market will expect a CR of some sort will be required to get to production and therefore we will have another hand brake on the SP despite the possible release of DFS in future.

A T/O offer is most likely as my personal opinion is that the the SP is well below fair value and positioned to attract someone with deeper pockets. A joint venture is not out of the question either.

Essentially my opinion (my opinion only) is we do not have the circumstances to go at this project alone based on this raise and our current SP. I could be underestimating ELT though, maybe our SP goes for a run again? But my experience investing in this area of the ASX is that attracting new institutional money comes at a cost to long term investors especially in the mining sector.

Anyone else have any thoughts? Am I generalising because of past bad experience with other mining related stocks?

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Have you been through any TOs at this end of the market before? What kind if ballpark TO price would you guess based on history?

ELT Price at posting: 19.5¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 16.5¢		Change 0.000(0.00%)		Mkt cap ! $32.13M

Open	High	Low	Value	Volume
16.5¢	16.5¢	16.5¢	$6.678K	40.47K

Buyers (Bids)

No.	Vol.	Price($)
2	25000	16.0¢

Sellers (Offers)

Price($)	Vol.	No.
16.5¢	67223	1

View Market Depth

No.	Vol.	Price($)
2	25000	0.160
1	40000	0.155
3	167340	0.150
2	10000	0.145
2	151877	0.140

Price($)	Vol.	No.
0.165	67223	1
0.170	107304	1
0.175	71554	3
0.180	22418	2
0.185	43125	2

Last trade - 16.10pm 17/05/2024 (20 minute delay)


Last 16.0¢			Change 0.000 ( 3.03 %)
Open	High		Low	Volume
16.0¢	16.0¢		16.0¢	9252
Last updated 15.58pm 17/05/2024 ?

ELT (ASX) Chart