What a joke. These people have given up on New Bendigo gold (not even a mention in the report) and do not even have the decency to tell shareholders why.
I suppose a few Canadians will take up the rights issue.
They actually have enough cash on hand to keep going as they are, but probably figure that unless they act now, the SP will soon be at 0.1c. Then they would be forced to consolidate before doing a CR while the SP would keep slipping post-consolidation and so the issue would have to be at an even lower price.
Ann: Entitlement Offer to Raise up to $1.5 Million, page-14
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Mkt cap ! $2.936M | |||
| Open | High | Low | Value | Volume |
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