FBR did well to raise the 16 million in this climate. Though from this sentence "The capital raising was supported by existing and new institutional and sophisticated investors from Australia, New Zealand, the United Kingdom and Hong Kong." It looks like WB wasn't keen enough to tip any money in. I wonder why.
The ann referenced that the money will be used for the next 12 months as detailed in the latest corp presentation. https://www.asx.com.au/asxpdf/20200731/pdf/44l2c6l4znqk5r.pdf If FBR can complete all those objectives then the company will be well placed for.....another CR in 2021, though I would be surprised if 16 million will be enough. share price wise, I cannot see much on the horizon. Likely it will bounce around between 3 and 10 cents for the next 12 months.
FBR Price at posting:
7.2¢ Sentiment: Hold Disclosure: Not Held
(20min delay)