Man this thing can't catch a break. While the announcement is a bit vague, it is still for an enormous chunk of funding - AUD187 - more than 100% of the EUR current market cap.
Whilst the announcement does not elaborate on the terms of the subscription agreement - as BRP mentioned it presumably will be at a discount to the prevailing market rate at the time. What that will be we do not know, but if the float goes well and it holds at the IPO price or close to it, then this will be raising at something like a 10x premium to the current EUR share price.
If the CRML float tanks, it still has to tank a very long way indeed before this is anything but a massive step forward for EUR holders.
EuroB looking VERY cheap indeed this morning imo.
Well done Tony & Team, now looking forward to the Nasdaq listing when the rubber really hits the road.
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