Why is CDE actively raising more money through another $100k share placement so soon after the $121k raising on November 17?These are small parcels but why?
Isn't the $2m CR happening? Under that CR, CDE could draw up to $250k per month starting in November. That is $750k per quarter and unless they have big spending intentions that's more than their quarterly cash burn. It appears Oakley, the lead manager has already cashed in its 121m share given to them for arranging the CR. Go figure that out?
Even though the last 2 share placements are providing $100k parcels of funds, they are also adding to CDE's share issue numbers in big chunks!
2 1/2 years ago, CDE (then known as YPB) did a 25:1 share consolidation that brought their 10 billion shares issued back to just on 400m, and since May of this year, the shares on issue has jumped from a bit over 800m to over 3 billion. Little wonder their share price can't get off the floor, stuck around 0.1c. The share placement announced today has been done at 0.092675c.
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