it's starting to look terminal now.
A very expensive business model with huge land package, holding costs, exploration commitments and project payments. This all looked doable with $10m in the bank, but that was gone in the first 12mths (cash 31 Dec 2022 was$1.3m) . IMO poor capital management. Whilst the market has been terrible for small caps (non Li) FXG has had a couple of opportunities to raise money off the back of solid results/SP spikes and volume. But have been flat footed and choosing to only raise small amounts, presumably to avoid diluting large holders. They are now relying short term on a CN from MDF which will either be repaid from a cap raise at all time lows? or converted at 8c, thus increasing MDF's exposure above 20%. But they still need money and lot's of it! Drilling season starts April. A couple of scenario's could play out-
- strategic equity investor
- earn-in - get diluted at the project level and still need to raise capital for corporate costs.
- re-capitalisation with cornerstone investor - massive dilution, but potential for existing share holders to participate and have another go.
- MDF makes a bid to bring FXG back into their stable. (assuming MDF can raise exploration dollars).
- Forums
- ASX - By Stock
- Ann: Felix Secures $1.2m in Funding to Advance Alaska Prospects
it's starting to look terminal now. A very expensive business...
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FXG (ASX) to my watchlist
(20min delay)
|
|||||
Last
4.4¢ |
Change
-0.002(4.35%) |
Mkt cap ! $11.01M |
Open | High | Low | Value | Volume |
4.7¢ | 4.7¢ | 4.2¢ | $15.22K | 342.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 267258 | 4.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.2¢ | 40000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 267258 | 0.044 |
1 | 156156 | 0.042 |
1 | 100000 | 0.041 |
4 | 302230 | 0.040 |
1 | 100000 | 0.032 |
Price($) | Vol. | No. |
---|---|---|
0.052 | 40000 | 1 |
0.053 | 100000 | 1 |
0.054 | 56356 | 1 |
0.055 | 50000 | 1 |
0.056 | 240740 | 1 |
Last trade - 15.53pm 28/06/2024 (20 minute delay) ? |
Featured News
FXG (ASX) Chart |
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online