Although capital raisings are necessary for explorers not yet generating revenue they can have a serious negative impact on the share price - market cap.
Was just looking back over the last scoping study completed in 2022. At the time we had $6m cash on hand and a market cap of $107m.
Wind the clock forward 2 years and I think 3 capital raises later and we now have $7m cash on hand and a market cap of $50m. Keep in mind in that 2 years we have increased our gold reserves (how much still to be determined) plus gold has increased in value to the tune of $1000 per ounce - staggering!
These capital raisings were necessary however they were done way too cheap IMO and now we are suffering significantly as a result.
All IMO
Ann: Diggers and Dealers Conference Presentation, page-26
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Last
3.3¢ |
Change
0.002(4.84%) |
Mkt cap ! $157.6M | |||
| Open | High | Low | Value | Volume |
| 3.2¢ | 3.4¢ | 3.1¢ | $722.3K | 22.21M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 4410169 | 3.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.3¢ | 2652758 | 6 |
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