So basically shareholders will get approx, 27% of the shares they applied for - it says a pro-rata scale back so it sounds like no minimum allocation amount and no special treatment depending on time shares held etc - this makes sense to me since trying to allocate according to certain criteria (loyalty etc) sounds like a nightmare to me.
The fact that AZS only accepted $10 million and will return the balance $27 million to shareholders is very bullish IMO - they obviously want to avoid unnecessary dilution at $2.40 - what does that tell you?? Other small explorers battling to raise funds (particularly in the gold space), where they are getting only 20-60% take-up of SPP's will be watching on with envy.
Onwards and upwards now with plenty of drilling with plenty of cash in the bank.
GLTA & DYOR
AZS Price at posting:
$2.70 Sentiment: Hold Disclosure: Held
